PepsiCo, Inc. (NASDAQ: PEP) today announced it has entered into a definitive agreement to acquire BFY Brands, the maker of PopCorners snacks. Upon closing, BFY Brands will report into PepsiCo's Frito-Lay North America division. 

The addition of BFY Brands will expand Frito-Lay's snacking portfolio and further deliver on its Winning with Purpose vision to offer consumers more positive nutritious options.

"BFY Brands offers distinctive products that deliver the great taste and ingredients consumers are looking for," said Steven Williams, CEO, PepsiCo Foods North America. "Their production capabilities will support the growth of our existing, more-nutritious snack brands."

The PopCorners line of snacks is available in grocery stores nationwide and includes Flex Protein Crisps and Flourish Veggie Crisps.

The transaction is subject to customary conditions and approvals, including regulatory approvals.