(Sharecast News) - PepsiCo said on Tuesday that it has agreed to buy tortilla chip maker Siete for $1.2bn.

Founded in 2014, Siete produces "authentic heritage-inspired" tortillas, salsas, seasonings, sauces, cookies and snacks.

PepsiCo said the acquisition will complement its portfolio "with the addition of an authentic, Mexican-American brand,...

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