PepsiCo and Israeli food and drinks producer Strauss Group have inked plans for a joint venture in North America, the companies said today (10 December).
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The two sides, which have been in talks since September, will run Strauss’ Sabra business in the US and Canada, selling a range of dips and spreads in both markets.
PepsiCo and Strauss will each own a 50% stake in the business, which will sell Sabra, the best-selling hummus brand in the US.
“Sabra is a wonderful opportunity to expand PepsiCo’s role in providing healthier options in snacking,” Al Carey, president and CEO of PepsiCo’s snacks arm, Frito-Lay North America, said.
Strauss president and CEO Erez Vigodman added: “Sabra will lead the freshness revolution in the United States and Canada, consistent with notable emerging consumer trends in the world today.”
