Strauss Group is selling its 50% stake in Sabra Dipping Co. and PepsiCo-Strauss Fresh Dips & Spreads International GmbH (Obela) for $243.8 million. The deal reflects Strauss's strategy of focusing on its core activities and includes an option for Strauss to buy a 2.5% stake in PepsiCo's salted snacks operations in Israel. Sabra is the biggest dips and spreads brand in the US and has the largest market share in hummus. Strauss estimates a net capital gain of NIS 319-325 million from the deal.
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