Siete Family Foods reposted this
Food and Agriculture Staff Writer at Forbes Magazine | Author, Raw Deal: Hidden Corruption, Corporate Greed and the Fight for the Future of Meat
The Forbes Food Desk has been tracking the rise of Siete Family Foods for nearly a decade. CEO Miguel Garza landed on our 30 Under 30 food list back in 2016, when his family’s company did little more than $1 million in annual revenue. Then, in 2019 I had the exclusive on Siete landing a $90 million investment from private equity firm Stripes to fuel its next stage of growth. And wow, did the Texas-based company grow: Siete is getting acquired by PepsiCo. for $1.2 billion. The deal means the Garza family, as majority owners, are now among the most successful Latino entrepreneurs in food history. There’s now 10 family members who work at Siete, which derives its name from the seven original family members who ran the tortilla and chip maker since it was founded in 2014. All of the family members are set to stay on through the acquisition. While catching up with Miguel Garza this week, he shared that he wants this deal to “shatter the pattern recognition that investors may have” and create even more opportunities for current and future generations of Latinx entrepreneurs. And when it comes to that next generation of the Garza family, Miguel, a young father of two daughters, says: “My hope is that we are giving them permission to dream.” “We have given people an opportunity to see themselves in spaces that they didn’t feel seen,” says Garza. “We are enlarging any vision that they may have thought possible for themselves.” More in today's Fresh Take newsletter!
briana théraube
1mo
I love Siete Family Foods products. It’s my go to brand because I can trust its free of “natural” flavoring and other processed goods. Hopefully this doesn’t impact your products… please continue to keep “natural” flavors out of your ingredients! Hope this means only positive change for your family and products. Congrats! #nachochipsforlife
Amy Gao
1mo
Siete Family Foods’ acquisition by PepsiCo is a transformative moment for Latino entrepreneurship in the food industry, exemplifying how culturally resonant, family-founded brands can achieve substantial growth and impact. This milestone not only validates the brand’s journey and its appeal across diverse consumers but also expands visibility for Latinx-led companies. Miguel Garza's vision to "shatter the pattern recognition" signals a powerful shift, encouraging greater investment and support for underrepresented founders in the industry. This acquisition demonstrates how authentic, community-rooted brands can thrive and inspire new generations to envision limitless possibilities.
For anyone with gut issues, their chips have been a delicious godsend. Kudos to them.
Mark A. Samuel
1mo
Love those quotes Miguel Garza!
Sajani Amarasiri
1mo
I 100% agree, I get the concerns from a customer perspective, but the moment I heard the news as a immigrant, CPG founder bringing cultural foods, all i could think was - they just gave all the other cultural CPG founders an excellent example! And ofcourse financial freedom, what a dream!
Megan Pena
1mo
I love getting to know niche brands and Siete Family Foods is no exception! THANK YOU for making thoughtful products! Congratulations on being a sought after brand both by consumers and the big names. Well done!
Shawn Berg
1mo
I just told a friend last week, I hope I’m a broker to a brand when they have a sale like this! It would be awesome! I’m proud of my little part, getting a few chip items in Publix 6 or so years ago! Congrats
Matthew Hanson
1mo
Congrats to this family. Starting from an autoimmune disease and restricting grains, dairy etc. to now 10 yrs later scaling up & selling for $1.2B - IMPRESSIVE!
Technology Strategist
1moHopefully the Garza family will teach PepsiCo a thing or 2 about making quality products with real ingredients and not the crap they have been dumping into the marketplace.