PepsiCo in pact to sell Sabra spreads
PepsiCo Inc said on Monday it had formed a joint venture with Israeli food maker Strauss Group to operate Strauss' Sabra business in the United States and Canada.
By PTI |
NEW YORK: PepsiCo Inc said on Monday it had formed a joint venture with Israeli food maker Strauss Group to operate Strauss' Sabra business in the United States and Canada.
The joint venture will produce and sell Sabra's dips and spreads in the United States and Canada, with PepsiCo's Frito-Lay North America unit and Strauss each holding a 50 percent stake in the business. Sabra's products include hummus, eggplant dips, babaganoush spreads and Mediterranean salsa.
The deal, whose terms were not disclosed, is expected to be finalized early next year, PepsiCo said.
The joint venture will produce and sell Sabra's dips and spreads in the United States and Canada, with PepsiCo's Frito-Lay North America unit and Strauss each holding a 50 percent stake in the business. Sabra's products include hummus, eggplant dips, babaganoush spreads and Mediterranean salsa.
The deal, whose terms were not disclosed, is expected to be finalized early next year, PepsiCo said.
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