PepsiCo (NYSE: PEP) announced today its agreement to purchase
Stacy's Pita Chip Company -- the top-selling maker of pita chips with sales approaching $60 million this year. Stacy's, which will continue to be based in Randolph, MA, with more than 100 employees, is planned to operate as a separate unit and report to Frito-Lay North America chairman and chief executive officer Irene Rosenfeld.
INFO SOURCES
PepsiCo (NYSE: PEP); Frito-Lay North America
FIRMS
PepsiCo is one of the world's largest food and beverage companies with annual revenues of $29 billion. Its principal businesses include Frito-Lay snacks, Pepsi-Cola beverages, Gatorade sports drinks, Tropicana juices and Quaker foods. Its portfolio includes 16 brands that generate $1 billion or more in annual retail sales.
Frito-Lay, based in Plano, TX, is the $10 billion convenient food division of PepsiCo, which is based in Purchase, NY.
Stacy's Pita Chip Company: Mark and Stacy always shared a passion for good food and a desire to open a restaurant. However, with large student loans and no capital they decided to take a risk by designing a food cart and serving healthy pita bread roll-up sandwiches. As an incentive, baked pita chips were served to customers waiting
in line and they became an instant hit and the lines grew longer each day. Customers loved pita chips so much; they were encouraged to get the pita chips into stores. Thanks to loyal customers, Stacy's chips are now available nationwide.
Supporting Material
