(Reuters) -PepsiCo is in advanced talks to acquire tortilla-chip maker Siete Foods for more than $1 billion, the Wall Street Journal reported on Monday, citing people familiar with the matter. Texas-based Siete Foods is owned by the Garza family and operated by all seven of its members.

PepsiCo (NASDAQ:PEP) is reportedly in advanced talks to acquire food company Siete Foods for more than $1 billion. Sources told The Wall Street Journal that a deal could be announced soon, although other bidders are in the mix.

PepsiCo is reportedly nearing a deal to acquire US-based tortilla-chip manufacturer Siete Foods for more than $1bn.

PepsiCo PEP0.03%increase; green up pointing triangle is in advanced talks to acquire tortilla-chip maker Siete Foods for more than $1 billion, according to people familiar with the matter. A deal for the closely held business could be announced soon ...

PepsiCo Inc. (PEP.O) is in advanced discussions to purchase Texas-based tortilla-chip maker Siete Foods for more than $1 billion, according to sources cited by the Wall Street Journal. The Garza family,