Food manufacturer sells holding in joint venture after declining sales amid fierce competition and an uptick in the anti-Israel boycott campaign in the US The post Strauss divests stake in Sabra US hummus venture to PepsiCo for $244 million appeared first on The Times of Israel.

PepsiCo purchased 50% of the Sabra Obela dips brand from Strauss for $244 million (NIS 900 million), making it the full owner.

PepsiCo is to buy out Israel's Strauss Group from their Sabra and Obela dips ventures. The US giant did not disclose how much it had agreed to pay for the 50% stakes in US-based Sabra Dipping Company and Switzerland-based PepsiCo-Strauss Fresh Dips & Spreads International,