March 16, 2011 – (Reuters) - PepsiCo Inc <PEP.N> said it is extending its joint venture with Israeli food and beverage maker Strauss Group <STRS.TA> to sell fresh dips and spreads in keymarkets outside North America.
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Pepsi and Strauss already operate a joint venture in North America that sells Sabra brand hummus, fresh salsa and eggplant dips.
Under the new deal, each partner will own 50 percent of the new entity, the companies said in a statement, but did not disclose any financial details.
The move takes the owner of Frito-Lay snacks, Quaker oatmeal and Tropicana orange juice closer to its goal of generating $30 billion in revenue from nutritious products by 2020, as it seeks to tap consumers' growing health consciousness.