Texas Brand Raises $90 Million to Make Vegan Nacho Chips and Cashew Queso

This week, Austin-based Siete Family Foods raised $90 million in investment capital from Stripes Group, LLC. The company—founded in 2014 by brother-and-sister-team Veronica and Miguel Garza and their mother Aida Garza—produces gluten-free tortillas made with flour derived from cassava roots, almonds, chickpeas, and cashews. The brand also makes hot sauce, cashew-based vegan queso dip in two flavors (Spicy Blanco and Mild Nacho), and vegan versions of ranch- and nacho-flavored chips. “We have been close to the Garzas and the Siete story for two years, starting first as loyal customers, fans, and friends,” Stripes Group Partner Karen Kenworthy said. “Siete’s celebration of family and Mexican-American heritage has created a truly organic brand ethos that connects to a broad audience.” The company’s distribution channels have increased by 10-fold in the last three years and its products are currently available in 4,400 stores. “We are passionate about making food that brings people together,” Miguel Garza. “This investment is going to provide us the resources to keep expanding, while remaining true to our core values as a family and company.”