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PepsiCo has agreed, pending government approval, to purchase Stacy's Pita Chip Co. -- the top-selling maker of pita chips with sales approaching $60 million this year.
Stacy's is an all-natural snack company that supports Frito-Lay's desire to participate more broadly in the $90 billion macrosnack category, the company said in a statement.
Stacy's pita chips are distributed nationwide and have become the sales leader in the rapidly growing pita chip category. The company's pita chips come in five flavors and qualify for PepsiCo's Smart Spot, a symbol on select products to make shopping easier for families looking for healthier snack and beverage choices. Stacy's pita chips are baked, all natural and have no cholesterol or trans fats. Like Frito-Lay, Stacy's offers snack chips without trans fats and includes trans fat information on its packaging.
"Stacy's has enjoyed tremendous success since it was founded nine years ago," said Irene Rosenfeld, Frito-Lay Chairman and CEO. "Stacy's enables Frito-Lay to be a leader in the pita chips category, while supporting our plans to expand our snack offerings to meet consumers' changing needs and lifestyles. Stacy's has created a unique entrepreneurial identity, which has been instrumental to its success, and we plan to preserve that identity, while providing access to Frito-Lay's resources."
Stacy's, which will continue to be based in Randolph, Mass., with more than 100 employees, is planned to operate as a separate unit and report to Rosenfeld.