Press release
Strauss Group announced today the sale of its holdings in Sabra and Obela, the group’s spreads and dips joint venture operations with PepsiCo in the US and other countries, to PepsiCo for approximately NIS 900 million
Shai Babad, President and CEO of the group, stated: “This move is another step in executing our strategy, which aims to focus on our core businesses and leverage our resources in the best possible way. As part of the group’s strategy implementation, we continue to lead significant business moves for Strauss’s operations. We want to thank all Sabra employees over the years and PepsiCo for the extraordinary journey from a small salad company to the leading hummus brand in the US.”

Petach Tikva, Israel, November 22nd: Strauss Group announced this morning that PepsiCo will acquire Strauss’s share in Sabra and Obela. PepsiCo will acquire Strauss’s share in the operation (50%) for approximately NIS 900 million.

In 2005, Strauss acquired 51% of Sabra’s operations for approximately $9 million, and in 2008, it signed a partnership deal with PepsiCo to acquire 50% of the operation and establish a joint venture in which each company holds 50% of the shares. Since then, Sabra has become the leading salad and spreads company in the US, leading the hummus market. The operation later expanded to other countries outside the US under the Obela brand.

As part of the shared journey that PepsiCo and Strauss underwent in the last 16 years, the Sabra brand and products have become well known across North America.
In addition, Strauss will receive an option to purchase up to 2.5% of PepsiCo’s holdings in the salty snacks division in Israel.
The Sabra deal reflects continued focus on Strauss’s strategic core activities and continued implementation of the group’s strategy for 2024-2026. Strauss launched an updated strategy for the group, focusing on core activities, strengthening the home base in Israel, expanding its operations in Brazil, continuing the growth of water activities worldwide, and continuing to invest in developing capabilities and strengthening resilience and readiness for the future. The company will continue to implement the strategy

About Sabra
Sabra operates in the chilled dips and spreads market in the US and Canada, while Obela operates in Australia, New Zealand, and Mexico, focusing on hummus and guacamole activities. Sabra is the largest dips and spreads brand in the US in terms of sales volume and market share according to IRI data, with Sabra holding the largest market share in the hummus category in the US.
Sabra and Obela have approximately 700 employees (as of the end of 2023) and an innovative factory in Virginia.