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PepsiCo said Tuesday that it's buying Mexican-American food company Siete Foods for $1.2 billion, marking the company's first food acquisition in roughly five years. Like many food companies, Pepsi has been trying to shift its portfolio to include healthier options in recent years, usually through acquisitions. Soon that will also include Siete. In August, M&M's owner Mars announced it would buy Pringles parent Kellanova in a deal valued at nearly $36 billion. This March, Campbell Soup completed its $2.7 billion acquisition of Rao's pasta sauce maker Sovos Brand.
Persons: Bare, Veronica Garza, Ramon Laguarta, Mars, Campbell Soup, Sovos Brand Organizations: PepsiCo, Foods, Pepsi, Siete, Target, Kroger, CVS, &' $ Locations: American
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Food-and-beverage startups raised $7.8 billion in the first three quarters of 2022, per PitchBook. Insider compiled a list of VCs behind some of the most recent and buzzy food-and-beverage brands. Boulder typically expects its food-and-beverage investments to last between five and eight years before the startup makes an exit, he said. Insider compiled a list of 11 venture capitalists who specialize in investing in food-and-beverage startups — and are on the lookout for headline-worthy deals. Here are the top food-and-beverage investors founders should keep in mind when raising cash.
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