PepsiCo and Strauss Launch the Global Expansion of Their Dips and Spreads Business Under the New Global Brand Obela

Joint venture builds on Sabra, the successful dips and spreads business between the two companies in the U.S. market. Designed to capitalize on growing consumer market for hummus and other nutritious products.

13 June 2012 --- PepsiCo, Inc. and Strauss Group introduced Obela, a fresh, refrigerated dips and spreads brand that will be launched in Mexico in June. The brand will be launching varieties of hummus that meet growing consumer demand for health and wellness options. Mexico is the first market where the brand will be launched under the international joint venture, which is setting out to captivate the world's consumers with a variety of fresh, delicious and wholesome dips and spreads, based on natural ingredients.

"We are constantly looking for new opportunities to grow our business by offering a wide-range of products, including great-tasting healthier choices,” said Pedro Padierna, president of PepsiCo Mexico. “Strauss brings unique capabilities and expertise in fresh foods that, when combined with PepsiCo’s go-to-market and brand building strengths, will position us well to give consumers a great new line of products that complements our existing portfolio in Mexico.”

"The excellent partnership between PepsiCo and Strauss will enable us to expand our global reach and improve more people's lives. PepsiCo's capabilities, global infrastructure and excellence 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 Mexico and other countries," said Ofra Strauss, Chairperson of Strauss Group.

Since 2008, PepsiCo and Strauss have operated a successful joint venture in the United States and Canada called Sabra Dipping Company. Sabra is the top-selling brand of hummus in the United States and is the leader in the chilled dips and spreads category. The companies expanded their relationship in 2011 through a joint venture focused on markets outside North America, starting in Mexico. The group is working to identify new opportunities to continue Obela's expansion in the near future.

The Obela brand is born from the communications concept "the flavors that bring the world together;" it’s a voyage of discovery of new fresh dips that will become part of the food experience all over the world, as part of a meal, as a snack and as a nutritious and wholesome food. Obela will connect the diversities of people, tastes, culture and eating experiences.

For the launch in Mexico, some local flavors were used to give consumers a multicultural experience in every taste. Obela is launching three varieties of hummus – natural taste, chipotle and red pepper.

Obela products will be available at retail chains throughout Mexico, including Walmart, Soriana, Chedraui and Comexa. The joint venture will invest $10 million dollars in Mexico to help drive the successful launch of the Obela business.

"There is a significant growth opportunity in Mexico in the dips and spreads category, beginning with current hummus consumers,” added Gustavo Salas, Obela’s general director in Mexico. “Our goal is to make sure that at least one fifth of households in Mexico enjoy and share our products with family and friends, thus turning any moment into a very special occasion."

The Obela launch in the country reaffirms PepsiCo’s commitment to investing and growing its business in Mexico. In 2009, PepsiCo announced plans to invest $3 billion dollars over the next five years.

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