PURCHASE, N.Y. — PepsiCo, Inc. has agreed to acquire Bare Foods Co. d.b.a. Bare Snacks, a maker of baked fruit and vegetable snacks. Financial terms of the transaction were not disclosed.
Founded in 2001, San Francisco-based Bare Snacks offers a portfolio of apple chips, banana chips, coconut chips and recently added beet chips, carrot chips and sweet potato chips. The addition of Bare Snacks expands PepsiCo’s nutritious snacking options.
“For nearly a dozen years, PepsiCo has been committed to Performance with Purpose, our vision of making more nutritious products, while also reducing added sugars, salt and saturated fat,” said Indra Nooyi, chairman and chief executive officer of PepsiCo. “Bare Snacks fits perfectly within that vision. The Bare Snacks leadership team has done an outstanding job building a top-tier organization and a strong brand with authentic roots, and I couldn’t be more excited to welcome Bare Snacks to the PepsiCo family.”
Bare Snacks will continue to operate independently at its headquarters with its leadership reporting into PepsiCo’s Frito-Lay North America division upon closing of the transaction, according to the companies.
“Bare premium baked fruit and vegetable chips are an exciting expansion of Frito-Lay’s better-for-you snack offerings,” said Vivek Sankaran, president and chief operating officer for Frito-Lay North America. “While we will continue to offer the current Bare Snacks product line, we look forward to working with the Bare Snacks team to deliver new, innovative options, and ultimately expanded distribution, to meet the ever-growing consumer demands for authentic and nutritious snacks.”