PepsiCo to acquire sole ownership of Sabra and Obela businesses

PepsiCo announced on Friday plans to expand its food portfolio by acquiring full ownership of two joint ventures in the refrigerated dips and spreads market.

PepsiCo to acquire sole ownership of Sabra and Obela businesses

The Harrison, New York-based company will purchase the remaining 50% stakes in Sabra Dipping Company LLC and PepsiCo-Strauss Fresh Dips & Spreads International GmbH, also known as Obela. Currently, both ventures are evenly split partnerships between PepsiCo and Israeli food and beverage company Strauss Group Ltd. Sabra was founded in 2008 and Obela in 2012. These joint ventures produce, distribute, and sell a variety of refrigerated dips and spreads. Sabra, headquartered in New York, operates in the US and Canada, while Obela, based in Geneva, Switzerland, serves markets in Australia, New Zealand, and Mexico.

Sabra generates $400M in retail sales in US

Sabra has grown into a leading hummus brand, generating nearly $400 million in retail sales in the US alone. “As we expand our food portfolio to offer more choices for diverse occasions, our goal is to meet the rising demand for nutritious, convenient options,” said Steven Williams, CEO of PepsiCo Foods North America. “Refrigerated dips and spreads represent a category we’ve long wanted to grow in the US and Canada. We’re grateful to the Strauss Group for a successful partnership and are excited for the next chapter for Sabra, Obela, and the PepsiCo food portfolio.”