PepsiCo and Strauss Group Complete Formation of Joint Venture Sabra to sell hummus

PepsiCo and Strauss Group announced that the formation of a joint venture partnership to operate Sabra, the top-selling and fastest-growing maker of hummus, has been completed. Sabra had sales of $65 million in 2007. Last year, total U.S. sales of hummus grew to $192 million. 

The Sabra joint venture will produce and sell fresh dips and spreads in the U.S. and Canada, while drawing on both Strauss Group and Frito-Lay North America's (FLNA) marketplace expertise to continue building this growing business. Sabra expands FLNA's role in providing healthier snack options and aligns with the 'fresh' trend. PepsiCo's FLNA business unit and Strauss will each own 50% of the business.