Strauss to Take Full Control of Doritos and Tapuchips Maker in 2-Billion-Shekel Deal

The Strauss Group is set to take full control of the producer of snack brands Doritos and Tapuchips in a deal valued at around 2 billion shekels, Israeli financial newspapers Calcalist and TheMarker reported.

According to the reports, the move comes as American food giant PepsiCo distances itself from its operations in Israel, marking a major financial commitment by Strauss to the domestic market. Under the transaction, the Israeli food manufacturer is expected to buy out PepsiCo's stake in the salty snacks joint venture.

Further details regarding the final terms of the agreement and the required regulatory approvals have not yet been officially released.