When we first met Siete Family Foods back in 2018, we knew they were a truly special brand and team. They were still relatively small at the time but clearly on their way to achieving BIG things. Fast forward to today, and PepsiCo’s recent $1.2B acquisition proves it. What factors drove their success? Here’s a breakdown: 𝗧𝗵𝗲 𝗢𝗽𝗽𝗼𝗿𝘁𝘂𝗻𝗶𝘁𝘆 📈 • The Mexican-American food category (including snacks/chips) is a $13B+ market that had yet to be disrupted by better-for-you (BFY) competitors, so was ripe for a breakout brand like Siete. 𝗧𝗵𝗲 𝗕𝗿𝗮𝗻𝗱 🔥 • Founded by the seven (siete) members of the Garza family, the brand was built on authenticity and a promise of great taste combined with healthy, clean ingredients. Their evolution from “Must B Nutty” to Siete is also one of the greatest brand transitions of all time! 𝗧𝗵𝗲 𝗣𝗿𝗼𝗱𝘂𝗰𝘁𝘀 🥑 • Siete's Market-Brand-Product fit is second-to-none. Their products deliver authentic flavors with better-for-you ingredients and "+2’s" (e.g., grain-free + avocado oil, paleo + preservative free). They also built an 𝙞𝙣𝙣𝙤𝙫𝙖𝙩𝙞𝙤𝙣 𝙚𝙣𝙜𝙞𝙣𝙚 that was able to quickly turn market opportunities into new products. 𝗧𝗵𝗲 𝗧𝗲𝗮𝗺 👥 • Led by Miguel Garza and Veronica M. Garza, Siete’s team had the talent and vision to scale rapidly. Bringing on other leaders like Sami Jallad helped turn that vision into a reality. __________________________________ That sounds great in hindsight, but what were the 𝙥𝙧𝙤𝙤𝙛 𝙥𝙤𝙞𝙣𝙩𝙨 when Stripes invested $90 million in Siete in 2018? 📊 𝗣𝗿𝗼𝘃𝗲𝗻 𝗦𝗮𝗹𝗲𝘀 𝗩𝗲𝗹𝗼𝗰𝗶𝘁𝘆 • Siete’s chips and tortillas were already #1 at Whole Foods with unmatched sales velocities. They were strong (and growing) in conventional, proving this wasn’t just a natural channel phenomenon. 🌱 𝗠𝗮𝘀𝘀𝗶𝘃𝗲 𝗚𝗿𝗮𝘀𝘀𝗿𝗼𝗼𝘁𝘀 𝗙𝗼𝗹𝗹𝗼𝘄𝗶𝗻𝗴 • Siete had more Instagram followers than Chobani and KIND Bar (still does!), and over 6x the followers of Old El Paso, Tostitos, Mission, Pace, Ortega and La Victoria COMBINED. 🚀 𝗔𝗯𝗶𝗹𝗶𝘁𝘆 𝘁𝗼 𝗘𝗻𝘁𝗲𝗿 𝗡𝗲𝘄 𝗖𝗮𝘁𝗲𝗴𝗼𝗿𝗶𝗲𝘀 • Siete had already successfully expanded from tortillas into chips and were in the process of launching hot sauces and other products. Retailers were asking for new products in other categories, proving this is a brand that could travel! 🎯 𝗖𝗿𝗲𝗱𝗶𝗯𝗹𝗲 𝗚𝗿𝗼𝘄𝘁𝗵 𝗣𝗹𝗮𝗻 • Siete had a methodical growth plan based on proven retail velocities, steady distribution growth, and planned new product launches. 𝘈𝘨𝘨𝘳𝘦𝘴𝘴𝘪𝘷𝘦 𝘺𝘦𝘵 𝘤𝘳𝘦𝘥𝘪𝘣𝘭𝘦. ________________________________ With Stripes' investment, Siete further built out their team and accelerated their amazing growth—and the rest is history… An incredible success story all around. Best of luck with your new partnership with PepsiCo! Big congrats to Miguel Garza, Veronica M. Garza, and the entire Garza family, as well as Karen Kenworthy, Christopher Carey, and Julia Solomon at Stripes Group! 👏
Sarah O.
2mo
A key point I don't see listed is that Siete is a brand that offers safe ingredients for people with food allergies including gluten. It's not just a brand of 'better for you' ingredients. It's one of the few brands that offers a variety of products that actually taste good and are literally safe for a large population of people who can't eat whatever they want. I pray their ingredients do not change. I'm hopeful this acquisition will simply make them more available.
JJ Hausman
2mo
The real question is will Pepsi change the ingredients or keep the ingredients that this brand started with?
Mark A. Samuel
2mo
Great recap on “why” they do well. Important for founders to read it. Me included. You need all the pieces to the puzzle for this to work.
Jason Burke
2mo
You get it 👏
Zach Schubert
2mo
Insightful
One of the best brands in the snack/chips category. Maybe the very best.
Kris Karlson
2mo
That is a great story. Thanks for sharing.
Tyler Mayoras 🌱
2mo
Love this chart. Thanks for sharing!
Director of Business Development | Father & Husband | Believer | Golf Enthusiast l Meat Eater
2moWill Pepsi keep the ingredients authentic as you are listing above? Will they NOT change out quality for profitability? There is a big difference between Avocado oil vs Avocado oil diluted with seed oils. I think a main reason why they do not own more of the market share is because their products are more expensive. Using healthy ingredients cost more and it is hard for me to believe Pepsi will keep those price points. Since Pepsi has 0 products using Avocado oil, olive oil or coconut oil, how can you help the consumer believe in Siete?