PepsiCo and Israeli food and drinks producer Strauss Group have finalised their partnership to run hummus producer Sabra.
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The joint venture with Sabra, which had sales of US$65m in 2007, will produce and sell fresh dips and spreads in the US and Canada.
“Sabra’s products are a natural complement to Frito-Lay’s offerings, particularly our Stacy’s pita chips,” said Al Carey, president and CEO of Frito-Lay North America. “We expect Sabra will continue to see positive growth because the products are in-line with consumer trends like freshness and health and wellness.”
PepsiCo’s Frito-Lay North America business unit and Strauss will each own 50% of Sabra.
“The partnership between Frito-Lay and Strauss will create a complementary set of competencies and expertise that will allow Sabra to lead the fresh dip category and offer consumers in North America a range of fresh dips that meets their desire for healthier, fresh foods,” said Erez Vigodman, president and CEO of Strauss Group.
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