Frito-Lay, Strauss form joint venture to operate Sabra

PURCHASE, N.Y. PepsiCo announced Monday it completed the formation of its joint venture with Strauss Group to operate hummus maker Sabra.

The venture, owned 50/50 by Pepsico’s Frito-Lay and Strauss, will make and sell dips and spreads, especially hummus—a spread made with mashed chickepeas, olive or sesame oil, and various spices—in the United States and Canada.

Sabra had 2007 sales of $65 million, and total U.S. sales of hummus last year were about $192 million, according to PepsiCo.