PepsiCo Inc. is buying Canadian sunflower and pumpkin seed maker
Spitz International Inc., which will become part of PepsiCo's Frito-Lay North America unit. The deal will allow PepsiCo to expand its presence in Canada and to broaden distribution of Spitz products in the U.S.
PepsiCo has initiated a number of deals this year to expand its presence in the healthy-snack and -drink category. In March, it created a
joint venture with Strauss Group
to operate Sabra, a leading maker of hummus. The joint venture will
produce and market fresh dips and spreads in North America. That same month, the company joined with its leading bottler, Pepsi Bottling Group Inc., to
buy Russian juice producer JSC Lebedyansky for $1.4 billion. The company has also introduced
new all-natural snacks this year, including True North nuts and Salty Sweet Kettle Corn.
PepsiCo has been struggling. After
third-quarter profit declined 9.6% from a year earlier, the company announced it would cut 3,300 jobs and shutter up to six plants in an effort to trim $1.2 billion from its balance sheet.
- Suzanne Stevens
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