The focus on snacks does not come without risks for food companies. Press release from Ajinomoto Health & Nutrition North America Inc. • May 17 – May 20, 2021, sales in snacking rose to $89 billion in 2016, growth has occured in all snacking categories, spent about $5 billion to acquire Snyder’s-Lance, bought the owner of RXBar protein bars for $600 million, PepsiCo announces definitive agreement to acquire Bare Snacks, expanding better-for-you portfolio into baked fruit and vegetable snacks, By the numbers: Examining the cost of the pandemic on the meat industry, 2020's 10 biggest M&A deals in the food and beverage industry, FDA approves GMO pork, but there's no determination if it's safe for those with allergies to eat, Frozen food sales soar with homebound consumers during pandemic, Eat Beyond aims to change the way people invest in protein alternatives, Optimizing Food & Beverage Plant Manufacturing During a Time of Disruption. Plano, TX. Bare Snacks, which started its operations in 2001 as a family-owned business, makes organic snacks with real fruits and veggies which are gluten-free. Purchase, New York-based PepsiCo did not make the financial terms of the agreement public. PepsiCo (NYSE: PEP) announced that it has entered into an agreement to acquire Bare Foods Co., maker of baked fruit and vegetable snacks. Subscribe to Food Dive to get the must-read news & insights in your inbox. PepsiCo claimed that under its current leadership team, the brand has expanded steadily to become the leader in apple, banana and coconut snacks. Food and beverage giant PepsiCo recently announced plans to acquire Bare Foods, which makes baked fruit and vegetable snacks, for an undisclosed price. “Bare Snacks … "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." Purchase, N.Y.-based PepsiCo is a global food and beverage leader with a portfolio of more than 22 brands that generate more than $1 billion each in annual retail sales. Want to share a company announcement with your peers? Nielsen found growth has occured in all snacking categories from 2013 to 2016 — led by bars, jerky and cookies/crackers. Case in point is PepsiCo’s recent purchase of snack manufacturer Bare Foods Co. to help bolster Pepsi’s health snack offerings. PepsiCo said Friday it is buying Bare Foods Co, a producer of fruit and vegetable-based snacks. When the transaction is sealed, Bare Foods will be reporting to Frito-Lay North America division and will continue to function independently from San Francisco. 28 May 2018 --- PepsiCo, Inc. has entered into a definitive agreement to acquire Bare Foods Co. (doing business as Bare Snacks), a US-based maker of baked fruit and vegetable snacks. As schedules become increasingly busy and consumers continue to look for healthful food options, it seems brands such as Bare Snacks are on the cusp of something big. Topics covered: manufacturing, packaging, new products, R&D, and much more. What Should Retailers & Brands Consider When Planning for 2021? "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." We deliver your favorite snacks & beverages straight to your door. Shop Now. Food and beverage giant PepsiCo (PEP) has gobbled up San Francisco-based fruit and vegetable chips maker Bare Snacks for an unrevealed amount. PepsiCo Inc. is buying a healthy snack company that will be overseen by its subsidiary Frito-Lay. The brand positioning of Bare Snacks is also in line with the PepsiCo’s “Performance with Purpose,” the US food giant’s vision of making more nutritious products by reducing added sugars, salt and saturated fat, according to Indra Nooyi, chairman and CEO of PepsiCo. When the market closed today, the stock inched up 0.13% to $100.31. Have a question or comment for us? The stock plunged 16% year-to-date and dipped 15% in the past one year. Earnings calendar for the week of December 28, Pinterest appears well-positioned to benefit from positive trends going into 2021, Paychex (PAYX) Earnings: 2Q21 Key Numbers. Food and beverage giant PepsiCo (PEP) gobbles up San Francisco-based fruit and vegetable chips maker Bare Snacks for an unrevealed amount. Marketing Manager, Ruffles Brand PepsiCo. Pineapple Chips & Coconut Chips - ID 11279. “The Bare Snacks' leadership team has done an outstanding job building a top-tier organization and a strong brand with authentic roots,” Nooyi said. The move comes at a time when consumers are looking for nutritious options, and the snacking trend isn’t slowing down any time soon. Bare Snacks was acquired by PepsiCo earlier this year, as part of PepsiCo’s strategy to grow its snack business in light of falling soda sales. The chairman and chief executive officer of PepsiCo believes that PepsiCo has been committed to Performance with Purpose, a vision of making more nutritious products, while reducing the added sugars, salt, and saturated fat and Bare Snacks seemed like the ultimate fit. Senior Marketing Manager, Bare Snacks PepsiCo. Bare Foods Co. (doing business as Bare Snacks) was founded in 2001 by a family-owned organic apple farm in Washington, that began selling packaged baked apple chips in local farmers' markets. Feb 2018 – Mar 2019 1 year 2 months. The addition of Bare Snacks will further expand PepsiCo’s portfolio of healthy and better-for-you snacks. PepsiCo Inc. said Friday it is buying Bare Foods Co., a maker of fruit and vegetable snacks, as the global food and beverage company looks to expand its offerings of healthier fare. Pineapple Chips & Coconut Chips - ID 11281. Bare Snacks fits perfectly within that vision," said Indra Nooyi, chairman and chief executive officer of PepsiCo. Apple Chips & Strawberry Chips - ID 11280. Is Facebook's (FB) dominance in social media coming to an end? Pepsi’s CEO Indra Nooyi commented that Bare Snacks fits the company’s vision of creating more nutritious products. Director, Sales Strategy - Bare Snacks PepsiCo. The addition of Bare Snacks will further expand PepsiCo’s portfolio of healthy and better-for-you snacks. Bare Snacks makes crave-ably crunchy fruit and veggie chips that are baked never fried, gluten free, non GMO, with no preservatives or anything artificial. Also, the research firm expects the US vegetable, bread, and pulse chips market to reach $2.5 billion by 2022. Bare Snacks will continue to operate independently at its San Francisco headquarters under the direction of Frito-Lay North America. By doing so, the company has expanded its Frito-Lay division’s “Better for You” snack offerings. Save time & keep your pantry stocked with all the good stuff. Bare Snacks has been in business for nearly two decades and has a proven track record that should appeal to PepsiCo investors, although no one can predict how well the snacks will scale to global customers. The free newsletter covering the top industry headlines, By signing up to receive our newsletter, you agree to our. Bare Snacks creates chips from apples, bananas, coconuts, carrots and sweet potatoes. But as larger companies continue to gobble up smaller snack makers, only time will tell which snacks will stick and which will end up as momentary fads. TUTTOFOOD Milano, Where Excellence Meets Innovation in Food & Beverage, What you need to know about e-commerce in food and grocery, Peaking inside the pod: A deep look inside Peapod's grocery delivery business, Earth to the meatpacking industry: 2021 is coming up, exit the time capsule, 5 questions to ask before adopting a coronavirus vaccine policy, Proposal would move GMO food animal regulation to USDA, Food workers should be among the next in line for the vaccine, CDC panel says, Consumer eating and drinking habits during pandemic reflect different needs. As FONA International reported last year, more than 80% of consumers snack every day, and about one in four noshes between meals to treat herself. Bare Snacks assumes no liability or responsibility for any errors or omissions in the content of the Platform. Bare Snacks was founded in 2001 by a family-owned organic apple farm in Washington, that began selling packaged baked apple chips in local farmers' markets. Pandey comes from Frito-Lay (a PepsiCo company) in the United States where she has spent the last 11 years in roles that span across marketing, corporate strategy, insights and media. Reports of mutant versions of coronavirus spreading in Europe and resurgence of infections across the world have dampened market sentiment, at a time when the economy seemed to be limping, Pinterest Inc. (NYSE: PINS) has seen its stock gain 298% in 2020. Find your answer here, or contact Bare Snacks Consumer Relations directly via phone, email, or chat. Under its … PepsiCo is donating bundles to up to 500 hospital emergency rooms nationwide to help thank essential workers for their service during the COVID-19 crisis. Submit News. Bundles of Giving. About a month ago, the snacks maker’s CEO Santosh Padki said in an interview that some famous consumer packaged goods companies have approached the firm for a potential acquisition. Bare Snacks was founded in 2001 by a family-owned organic apple farm in Washington that started selling baked apple chips in order to extend its selling season. By doing so, the company has expanded its Frito-Lay division's "Better for You" snack offerings. Total revenue decreased 1% year-over-year to $983.7 million. Neither Bare Snacks nor any other party involved in creating, producing, or delivering the Platform is liable for any direct, incidental, consequential, indirect, or punitive damages arising out of your access to or use of the Platform. Discover announcements from companies in your industry. This trend has food companies looking to gain a foothold or a increase their footprint in the snack and convenience niche. The transaction will expand Pepsi's snacking portfolio and further deliver on its "Performance with Purpose" vision to offer consumers more positive nutrition options, while also reducing added sugars, salt, and saturated fat. PepsiCo will be looking forward to providing some healthy and tasty snacks for the consumers. Still, the purchase of Bare Snacks seems to hit many right notes for PepsiCo. PepsiCo has entered into an agreement to acquire Bare Foods Co., a maker of baked fruit and vegetable snacks. When the transaction is sealed, Bare Foods will be reporting to Frito-Lay North America division and will continue to function independently from San Francisco. Last week, the food and beverage giant has announced its acquisition of a San Francisco-based startup brand called Bare Foods, maker of baked fruit and vegetable snacks for $200M. Under its current leadership team, it has expanded steadily to become the leader in apple, banana and coconut snacks. PepsiCo Inc. reported a stronger-than-expected spring as homebound consumers looking for comfort stocked up on snack foods -- and its current-quarter forecast was even more bullish. The transaction will expand the company's snacking portfolio and further deliver on its Performance with Purpose vision to offer consumers more positive nutrition options. Bare Snacks fits perfectly within that vision,” added Indra Nooyi, chairman and CEO of PepsiCo. Attorneys weigh in: What legal issues should food & beverage companies watch in 2021? “The Bare Snacks leadership team has done an outstanding job building a top-tier organisation and a strong brand with authentic roots, and I could not be more excited to welcome the snack company to the PepsiCo family,” said Indra Nooyi, Chairman and Chief Executive Officer of PepsiCo. USA - PepsiCo, Inc. has announced it has entered into a definitive agreement to acquire Bare Snacks, a U.S.-based maker of baked fruit and vegetable snacks. Today’s young consumers are looking for new and interesting flavors, and are not necessarily loyal to a particular brand. Apr 2020 – Present 7 months. Net income rose 5% to $272.4 million while EPS rose, © 2020 AlphaStreet Inc. All Rights Reserved. For more than a dozen years, PepsiCo has worked to make more healthful products while reducing added sugars, salt and saturated fat, and Bare Snacks “fits perfectly within that vision,” PepsiCo CEO Indra Nooyi said in the news release. Food and beverage giant PepsiCo recently announced plans to acquire Bare Foods, which makes baked fruit and vegetable snacks, for an undisclosed price, according to a … Bare Snacks was founded in 2001 by a family-owned organic apple farm in Washington. Healthy snacks are an emerging market, and Bare has shown it can create products people want. Plant-based is the hottest trend in food today, and many companies are getting into the space as consumers become more interested in the health halo the products provide. According to market research firm IRI, sales in snacking rose to $89 billion in 2016, posting an annual growth rate of 3%. All of Bare Snacks' products are gluten-free, Non-GMO Project verified, kosher, vegan and free of refined sugar, preservatives, cholesterol and trans fats. For the most part of the year, the company posted strong revenue and user growth benefiting from increased, Paychex Inc. (NASDAQ: PAYX) reported its second quarter 2021 earnings results today. According to a report from Euromonitor, Frito-Lay has maintained its leading position in savory snacks in 2017 with a value share of 39%. In December, Campbell Soup spent about $5 billion to acquire Snyder’s-Lance, which makes brands such as Pop Secret, Kettle, Cape Cod and Emerald. Plano, Texas, United States. Its product line fits with Pepsi’s mission to offer healthful alternatives. Senior Brand Manager - Frito-Lay Variety Pack PepsiCo. Apr 2019 – Present 1 year 6 months. 28 May, 2018. Last month, Pepsi reported refreshing results for its first quarter beating Street’s view. How COVID-19 is Testing and Strengthening Food Industry Supply Chains, Crisp Announces the First Programmatic Commerce Platform for Food Brands and Retailers, New Ajinomoto Campaign Challenges Assumptions About Monosodium Glutamate (MSG), Yogurt Maker Chobani Recruits New CFO as It Continues to Expand. 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. Kellogg bought the owner of RXBar protein bars for $600 million last year, and Hershey announced plans to take over Amplify Snack Brands, maker of SkinnyPop popcorn. Apple Chips & Strawberry Chips - ID 11278. The Coca Cola’s rival didn’t acquire any company after it purchased the beverage company KeVita for an undisclosed sum in November 2016. However, the New York-based beverage company’s shares reached its 52-week low ($95.94) on May 9. 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