A born and raised Austin company is going big time. PepsiCo announced Tuesday that it will be purchasing Siete Foods for $1.2 billion.  In a statement on Tuesday, PepsiCo said the acquisition will complement the brand's portfolio with the addition of an "authentic,

Read more PepsiCo Inc. has entered a definitive agreement to acquire Austin-based Siete Foods for $1.2 billion, Austin Business Journal reports.

PepsiCo’s stock rose Tuesday, bucking the selloff in the broader stock market, after the beverage and snacks giant announced an agreement to buy Mexican-American foods maker Siete Foods for $1.2 billion a week before earnings are released.