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CONSUMER STAPLES: Pepsi (A1/A) eyes a reported $1b bolt-on of chips manufacturer

CONSUMER STAPLES
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$6.3b of cash on hand and $8b/yr in FCF so bolt-on and should not need to issue for it. Siete is private with no public debt. Reminder already over 40% of Pepsi revenues come from the NA chips segment Frito-Lay. Results were lacklustre on declining volumes last quarter.

"PepsiCo is in advanced talks to acquire tortilla-chip maker Siete Foods for more than $1 billion, according to people familiar with the matter. A deal for the closely held business could be announced soon, provided the talks don't fall apart, the people said." - WSJ

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$6.3b of cash on hand and $8b/yr in FCF so bolt-on and should not need to issue for it. Siete is private with no public debt. Reminder already over 40% of Pepsi revenues come from the NA chips segment Frito-Lay. Results were lacklustre on declining volumes last quarter.

"PepsiCo is in advanced talks to acquire tortilla-chip maker Siete Foods for more than $1 billion, according to people familiar with the matter. A deal for the closely held business could be announced soon, provided the talks don't fall apart, the people said." - WSJ