US snack maker PepsiCo has set up a 50-50 joint venture with Israeli food maker Strauss Group to produce and sell fresh dips and spreads in “key markets” outside North America.
The two companies have operated a venture producing the Sabra brand in North America since 2007. Sabra is the number one brand of hummus and the leader in the chilled dips and spreads category in North America, the companies said today (16 March).
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PepsiCo and Strauss said that they will “leverage their existing infrastructures” and invest in manufacturing plants, technologies and employees to set up local operations on a country or regional level.
“Making healthier snacking options more accessible to consumers is a huge global opportunity, and we’re well positioned to be a leader in this space,” said Jaya Kumar, president of global nutrition platforms within PepsiCo’s Global Nutrition Group. “This agreement will enhance our efforts to ensure that products made from vegetables and other fresh ingredients are both enjoyable and affordable, which
supports PepsiCo’s global nutrition strategy.”
For its part, Strauss said that it expected to benefit from PepsiCo’s “excellent” global infrastructure. “PepsiCo’s excellent global infrastructure combined with Strauss’s knowledge, innovation and expertise in the fresh food domain, will result in an international company whose products meet the daily needs of consumers in various countries and help to improve their quality of life,” Strauss president and CEO Gadi Lesin said.
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