Jump to content

PepsiCo

Page semi-protected
From Wikipedia, the free encyclopedia
(Redirected from Pepsico Inc)
This article is about the company. For the soft drink, see Pepsi.

PepsiCo, Inc.
Company typePublic
Industry
PredecessorPepsi-Cola Company
Frito-Lay, Inc.
Founded
  • August 28, 1898; 126 years ago (1898-08-28)
  • New Bern, North Carolina, U.S. (as the Pepsi-Cola Company)
  • June 8, 1965; 59 years ago (1965-06-08)
  • (as PepsiCo)
FounderCaleb Bradham (for the Pepsi-Cola Company branch)
Headquarters
Harrison, New York, U.S.
,
U.S.
Area served
Worldwide
Key people
Ramon Laguarta (chairman & CEO)
Jamie Caulfield (EVP and CFO)
ProductsSee list of PepsiCo products
RevenueIncrease US$91.47 billion (2023)
Increase US$11.98 billion (2023)
Increase US$9.16 billion (2023)
Total assetsIncrease US$100.5 billion (2023)
Total equityIncrease US$18.64 billion (2023)
Number of employees
318,000 (2023)
SubsidiariesList of subsidiaries
Websitepepsico.com
Footnotes / references
[1]

PepsiCo, Inc. is an American multinational food, snack, and beverage corporation headquartered in Harrison, New York, in the hamlet of Purchase. PepsiCo's business encompasses all aspects of the food and beverage market. It oversees the manufacturing, distribution, and marketing of its products. PepsiCo was formed in 1965 with the merger of the Pepsi-Cola Company and Frito-Lay, Inc., PepsiCo has since expanded from its namesake product Pepsi Cola to an immensely diversified range of food and beverage brands. The largest and most recent acquisition was Pioneer Foods in 2020 for US$1.7 billion[2] and prior to it was buying the Quaker Oats Company in 2001, which added the Gatorade brand to the Pepsi portfolio and Tropicana Products in 1998.

As of January 2021, the company possesses 23 brands that have over 1 billion $ each in sales annually.[3] PepsiCo has operations all around the world and its products were distributed across more than 200 countries and territories, resulting in annual net revenues of over US$70 billion. PepsiCo is the second-largest food and beverage business in the world based on net revenue, profit, and market capitalization, behind Nestlé. In 2023, the company's seat in Forbes Global 2000 was 82.[4] PepsiCo's flagship product, Pepsi Cola has been engaged in a rivalry for generations with Coca-Cola; it is commonly referred to as the cola wars. Although Coca-Cola outsells Pepsi Cola in the United States, PepsiCo within the North American market is the largest food and beverage company by net revenue. Ramon Laguarta has been the chief executive of PepsiCo since 2018. The company's beverage distribution and bottling is conducted by PepsiCo as well as by licensed bottlers in certain regions.

Pepsi has been repeatedly criticized by environmentalists for its relationship to negative environmental impacts of agriculture in its supply chain and in its distributing operations, such as palm oil–related deforestation and pesticide use, its use of water resources, and the negative impacts of its packaging—Pepsi's packaging has consistently been one of the top sources of plastic pollution globally.[5] Similarly public health advocates have criticized Pepsi's high-calorie, poor nutrition product lines along with other popular snack and drink manufacturers. In response PepsiCo has made public comments on its commitment to minimizing their impact but has not released public information documenting progress on most of its public commitments.

History

Origins

The soft drink Pepsi was developed by Caleb Bradham, a pharmacist and businessman from Duplin County, North Carolina. He coined the name "Pepsi-Cola" in 1898 marketing the drink from his pharmacy in New Bern, North Carolina. As his drink gained popularity Bradham founded the Pepsi-Cola Company in 1902 and registered a patent for his recipe in 1903.[6] The company was incorporated under Delaware General Corporation Law in 1919. Bradham's company experienced years of success leading up to World War I. However, sugar rationing during the war and a volatile sugar market in the war's aftermath damaged the company's financial health to such a degree that in 1923, Bradham declared bankruptcy and returned to running pharmacies in North Carolina.[7]

On June 8, 1923, the company trademark and secret recipe were purchased by Craven Holding Corporation. In 1931, Roy Megargel, a Wall Street broker, purchased the Pepsi trademark, business, and goodwill from Craven Holding in association with Charles Guth. Guth was also the president of Loft, Incorporated, a leading candy manufacturer based in Long Island City, New York. Loft ran a network with 115 stores across the Mid Atlantic at the time of Guth's acquisition. Guth used Loft's labs and chemists to reformulate the Pepsi syrup recipe, and he used his position as president of the company to replace Coca-Cola with Pepsi Cola at Loft's shops and restaurants. Guth also used Loft resources to promote Pepsi, and moved the soda company to a location close to Loft's own facilities in New York City.[8]

In 1935, the shareholders of Loft sued Guth for his 91% stake of Pepsi-Cola Company in the landmark case Guth v. Loft Inc. Loft won the suit and on May 29, 1941, formally absorbed Pepsi into Loft, which was then re-branded as Pepsi-Cola Company that same year. Loft restaurants and candy stores were spun off at this time.[citation needed]

In the early 1960s, Pepsi-Cola's product lines expanded with the creation of Diet Pepsi and purchase of Mountain Dew.[9] In 1965, the Pepsi-Cola Company merged with Frito-Lay, Inc. to become PepsiCo, Inc. At the time of its foundation, PepsiCo was incorporated under Delaware General Corporation Law and headquartered in Manhattan, New York. The company's h

Namesake Pepsi and snack Lay's are two of PepsiCo's flagship brands.

eadquarters were relocated to the present location of Purchase, New York in 1970,[10] and in 1986 PepsiCo was reincorporated in the state of North Carolina.[11] After 39 years trading on the New York Stock Exchange, PepsiCo moved its shares to Nasdaq on December 20, 2017.[12]

Acquisitions and divestments

Between the late-1970s and the mid-1990s, PepsiCo expanded via acquisition of businesses outside of its core focus of packaged food and beverage brands; however it exited these non-core business lines largely in 1997, selling some, and spinning off others into a new company named Tricon Global Restaurants, which later became known as Yum! Brands, Inc.[13] PepsiCo also previously owned several other brands that it later sold so it could focus on its primary snack food and beverage lines, according to investment analysts reporting on the divestments in 1997.[14] Brands formerly owned by PepsiCo include: Pizza Hut,[15] Taco Bell,[15] KFC,[15] Hot 'n Now,[16] East Side Mario's,[17] D'Angelo Sandwich Shops,[18] Chevys Fresh Mex, California Pizza Kitchen,[19] Stolichnaya[20] (via licensed agreement), Wilson Sporting Goods,[21] and North American Van Lines.[22]

The divestments concluding in 1997 were followed by multiple large-scale acquisitions, as PepsiCo began to extend its operations beyond soft drinks and snack foods into other lines of foods and beverages. PepsiCo purchased the orange juice company Tropicana Products in 1998,[23] and merged with Quaker Oats Company in 2001,[24] adding with it the Gatorade sports drink line and other Quaker Oats brands such as Chewy Granola Bars and Aunt Jemima, among others.[25]

In August 2009, PepsiCo made a US$7 billion offer to acquire the two largest bottlers of its products in North America: Pepsi Bottling Group and PepsiAmericas. In 2010 this acquisition was completed, resulting in the formation of a new wholly owned subsidiary of PepsiCo, Pepsi Beverages Company.[26]

In February 2011, the company made its largest international acquisition by purchasing a two-thirds (majority) stake in Wimm-Bill-Dann Foods, a Russian food company that produces milk, yogurt, fruit juices, and dairy products.[27] When it acquired the remaining 23% stake of Wimm-Bill-Dann Foods in October 2011, PepsiCo became the largest food and beverage company in Russia.[28][29]

In July 2012, PepsiCo announced a joint venture with the Theo Muller Group which was named Muller Quaker Dairy. This marked PepsiCo's first entry into the dairy space in the U.S.[30] The joint venture was dissolved in December 2015.[31]

On May 25, 2018, PepsiCo announced that it would acquire fruit and veggie snack maker Bare Foods.[32] It started quarter-owning allMotti in late November 2018 and was PepsiCo's first owned Tech and Computer Service company.

On August 20, 2018, PepsiCo announced that it had entered into agreement to acquire SodaStream.[33][34] The purchase was completed in December 2018 as part of a strategic plan to steer Pepsi toward offering healthier products.[35][36][37]

In 2019, PepsiCo sued four small farmers in India US$142,000 each for growing a type of potato it says it owns.[38][39] Pepsi said they would end the suit if the farmers grew potatoes for them.[39] A number of Farmers' associations are requesting that the government get involved in the case stating that Pepsi is attempting to intimidate people.[39] After pressure from the public as well as state and national governments, PepsiCo withdrew the lawsuit on May 2, 2019.

On October 3, 2019, PepsiCo announced that they would leave Indonesia after terminating their partnership with local distributor PT Anugerah Indofood Barokah Makmur (AIBM). Both companies stopped production of PepsiCo products on October 10. This has resulted in KFC and Pizza Hut chains in the country to switch to Coca-Cola products.[40][41]

On December 2, 2019, PepsiCo acquired the snacks brand, BFY Brands, who were then folded into the Frito-Lay division.[42]

In March 2020, PepsiCo announced that it had entered into agreement to acquire Rockstar Energy for US$3.85 billion.[43]

In January 2021, as a plan to fight global warming, PepsiCo announced that it is planning to achieve net zero greenhouse gas emissions by 2040, knowing that it had already started generating about 57 million metric tonnes of greenhouse gas emissions globally in 2019.[44]

On August 3, 2021, PepsiCo announced that they have agreed to sell a majority stake in Tropicana, Naked and other North American juice brands to French private equity firm PAI Partners for US$3.3 billion, so that the company can concentrate on its healthy snack food business. Pepsi will hold a 39% stake in the joint venture as well as having exclusive rights to the brand in the USA.[45][46]

In August 2022, PepsiCo acquired a $550 million stake in the energy drink maker Celsius.[47][48]

Competition

The Coca-Cola Company has historically been considered PepsiCo's primary competitor in the beverage market,[49] and in December 2005, PepsiCo surpassed The Coca-Cola Company in market value for the first time in 12 years since both companies began to compete. In 2009, The Coca-Cola Company held a higher market share in carbonated soft drink sales within the U.S.[50] In the same year, PepsiCo maintained a higher share of the U.S. refreshment beverage market, however, reflecting the differences in product lines between the two companies.[50] As a result of mergers, acquisitions, and partnerships pursued by PepsiCo in the 1990s and 2000s, its business has shifted to include a broader product base, including foods, snacks, and beverages. The majority of PepsiCo's revenues no longer come from the production and sale of carbonated soft drinks.[51] Beverages accounted for less than 50 percent of its total revenue in 2009. In the same year, slightly more than 60 percent of PepsiCo's beverage sales came from its primary non-carbonated brands, namely Gatorade and Tropicana.[50]

PepsiCo's Frito-Lay and Quaker Oats brands hold a significant share of the U.S. snack food market, accounting for approximately 39 percent of U.S. snack food sales in 2009.[50] One of PepsiCo's primary competitors in the snack food market overall is Kraft Foods (now Mondelez International), which in the same year held 11 percent of the U.S. snack market share.[50] Other competitors for soda are RC Cola, Keurig Dr. Pepper, and independent brands varying by region.

Soviet Union

In 1959, the USSR held an exhibition of Soviet technology and culture in New York. The United States reciprocated with an exhibition in Sokolniki Park, Moscow, which led to the famous kitchen debate. One of the American products exhibited was Pepsi Cola. After obtaining a photo of then–US vice president Richard Nixon and Soviet premier Nikita Khrushchev sipping Pepsi, PepsiCo executive Donald Kendall was able to capture the attention of the Soviet people, and in 1972 he negotiated a cola monopoly in the USSR and Pepsi became the first US consumer product to be produced and marketed in the Soviet Union.[3] Due to Soviet restrictions on transporting roubles abroad, PepsiCo struck a barter deal whereby Stolichnaya vodka would be exchanged for Pepsi syrup.[52]

In 1989, amidst declining vodka sales, PepsiCo bartered for 2 new Soviet oil tankers, 17 decommissioned submarines (for $150,000 each), a frigate, a cruiser and a destroyer, which they could in turn sell for non-Soviet currency.[53][54] The oil tankers were leased out through a Norwegian company, while the other ships were immediately sold for scrap.[55] A deal struck the following year would've seen Pepsi acquire 85 ships worth nearly $3 billion over the next 10 years,[56][57][58][59] but it only acquired 10 additional ships before the fall of the Soviet Union in 1991. The deal was renegotiated with the former nations of the USSR, and included receiving cheese from Russia to supply its Pizza Hut locations and receiving double-hulled tankers from Ukraine.[60] These deals also originated an erroneous factoid which claims that, after acquiring the Soviet fleet, PepsiCo briefly possessed one of the most powerful navies in the world.[54] In actuality, the only warships acquired by PepsiCo were "small, old, obsolete, unseaworthy vessels".[54][61]

Finances

Sales by business (2023)[62]
Business share
PepsiCo Beverages North America 30.2%
Frito-Lay North America 27.2%
Europe 14.5%
Latin America 12.7%
Africa, Middle East and South Asia 6.7%
APAC 5.3%
Quaker Foods North America 3.4%

For the fiscal year 2017, PepsiCo reported earnings of US$4.857 billion, with an annual revenue of US$62.525 billion, an increase of 1.2% over the previous fiscal cycle. PepsiCo's shares traded at over US$109 per share, and its market capitalization was valued at over US$155.9 billion in September 2018.[63] PepsiCo ranked No. 45 on the 2018 Fortune 500 list of the largest United States corporations by total revenue.[64]

Year Revenue
in million USD 		Net income
in million USD 		Total Assets
in million USD 		Employees
2005 32,562 4,060 31,727
2006 35,137 5,631 29,930
2007 39,474 5,646 34,628
2008 43,251 5,134 35,994
2009 43,232 5,940 39,848
2010 57,838 6,314 68,153
2011 66,504 6,436 72,882
2012 65,492 6,171 74,638
2013 66,415 6,740 77,478 274,000
2014 66,683 6,503 70,509 271,000
2015 63,056 5,452 69,667 263,000
2016 62,799 6,329 73,490 264,000
2017 63,525 4,857 79,804 263,000
2018 64,661 12,515 77,648 267,000
2019 67,161 7,314 78,547 267,000
2020 70,372 7,120 92,918 291,000
2021 79,474 7,618 92,377 309,000
2022 86,392 8,910 92,187 315,000
2023 91,471 9,074 100,495 318,000

Products and brands

Main article: List of assets owned by PepsiCo
Largest PepsiCo Brands based on 2009 retail sales
Brand
Pepsi
 
Mountain Dew
 
Lay's potato chips
 
Gatorade
 
Diet Pepsi
 
Tropicana beverages
 
7 Up (outside U.S.)
 
Doritos tortilla chips
 
Lipton teas (PepsiCo/LIPTON Teas and Infusions partnership)
 
Quaker foods and snacks
 
Cheetos
 
Mirinda
 
Ruffles potato chips
 
Aquafina bottled water
 
Pepsi Max
 
Tostitos tortilla chips
 
Sierra Mist
 
Fritos corn chips
 
Walkers potato crisps
 
Source: 2009 PepsiCo Annual Report[65]    $0               $5b              $10b              $15b                $20b

PepsiCo's product mix as of 2015 (based on worldwide net revenue) consists of 53 percent foods, and 47 percent beverages.[66] On a worldwide basis, the company's current products lines include several hundred brands that in 2009 were estimated to have generated approximately US$108 billion in cumulative annual retail sales.[65]

The primary identifier of a food and beverage industry main brand is annual sales over US$1 billion. As of 2015, 22 PepsiCo brands met that mark, including: Pepsi, Diet Pepsi, Mountain Dew, Lay's, Gatorade, Tropicana, 7 Up/Teem, Evervess, Doritos, Brisk, Quaker Foods, Cheetos, Mirinda, Ruffles, Aquafina, Naked, Kevita, Propel, Sobe, H2oh, Sabra, Starbucks (ready to Drink Beverages), Pepsi Max, Tostitos, Sierra Mist (discontinued in 2023 in favor of Starry), Fritos, Walkers, and Bubly.[67]

Business divisions

The structure of PepsiCo's global operations has shifted multiple times in its history as a result of international expansion, and as of December 2021 it is separated into seven main divisions: PepsiCo Beverages North America (PBNA), Frito-Lay North America (FLNA), Quaker Foods North America (QFNA), Latin America, Europe, Africa, Middle East, South Asia (AMESA) and Asia Pacific, Australia/New Zealand, China (APAC).[68] As of 2015, 73 percent of the company's net revenues came from North and South America; 17 percent from Europe and Sub-Saharan Africa; and 10 percent from Asia, the Middle East, and Africa.[66] PepsiCo and its combined subsidiaries employed approximately 263,000 people worldwide as of December 2015.[69]

PepsiCo Beverages North America

This division contributed 35 percent of PepsiCo's net revenue as of 2015,[66] and involves the manufacture (and in some cases licensing), marketing and sales of both carbonated and non-carbonated beverages in North America.[70] The main brands distributed under this division include Pepsi, Mountain Dew, Gatorade, 7 Up (outside the U.S.), Tropicana Pure Premium orange juice, Starry, SoBe Lifewater, Tropicana juice drinks, AMP Energy, Naked Juice, and Izze. Aquafina, the company's bottled water brand, is also marketed and licensed through North America Beverages.[71] In 2015, PepsiCo also introduced Stubborn Soda, a line of carbonated beverages without high fructose corn syrup.[72]

PepsiCo also has formed partnerships with several beverage brands it does not own, in order to distribute or market them with its own brands.[71] As of 2010, its partnerships include: Starbucks (Frappuccino, DoubleShot, and Iced Coffee), LUnilever's Lipton licensed brands (Lipton Brisk and Lipton Iced Tea), and Dole (licensed juices and drinks).

Frito-Lay North America

Frito-Lay North America, the result of a merger in 1961 between the Frito Company and the H.W. Lay Company, produces the top-selling line of snack foods in the U.S. Its main brands in the U.S., Canada, and Mexico include Lay's and Ruffles potato chips; Doritos tortilla chips; Tostitos tortilla chips and dips; Cheetos cheese flavored snacks; Fritos corn chips; Rold Gold pretzels; Sun Chips; and Cracker Jack popcorn. Products made by this division are sold to independent distributors and retailers, and are transported from Frito-Lay's manufacturing plants to distribution centers, principally in vehicles owned and operated by the company.[73]

The division contributed 23 percent of PepsiCo's net revenue in 2015.[66] Until November 2009, Christopher Furman, President of Ventura Foods Inc., occupied the position of Food Services CEO.[65][74][75]

In the second half of 2023, Frito-Lay, as part of the PepsiCo Positive initiative, will ship more than 700 electric vehicles (EV) to the US. The company predicts that this measure will reduce greenhouse gas emissions by 7,000 metric tons. Previous measures from the company were: order 100 Tesla Semi trucks, 30 of which have already been received, 40 Ford eTransits trucks for the Dallas - Fort Worth area, as well as the use of renewable energy storage, electric yard tractors BYD, Tesla semitrailers and Peterbilt electric trucks at a factory in Modesto, California.[76]

Quaker Foods North America

Quaker Foods North America, created following PepsiCo's acquisition of the Quaker Oats Company in 2001, manufactures, markets, and sells Quaker Oatmeal, Rice-A-Roni, Cap'n Crunch, and Life cereals, as well as Near East side dishes within North America. This division also owns and produces the Pearl Milling Company brand, which as of 2009 was the top selling line of syrups and pancake mixes within this region.[50][77]

Sabritas and Gamesa are two of PepsiCo's food and snack business lines headquartered in Mexico, and they were acquired by PepsiCo in 1966 and 1990, respectively. Sabritas markets Frito-Lay products in Mexico, including local brands such as Poffets, Rancheritos, Crujitos, and Sabritones. Gamesa is the largest manufacturer of cookies in Mexico, distributing brands such as Emperador, Arcoiris and Marías Gamesa.[78]

The division contributed 4 percent of PepsiCo's net revenues in 2015.[66]

Latin America

PepsiCo's Latin America Foods (Spanish: Snacks América Latina) operations market and sell primarily Quaker- and Frito-Lay/Sabritas/Elma Chips-branded snack foods within Mexico, Central and South America, including Argentina, Brazil, Peru, and other countries in this region.[79] Snacks América Latina purchased Peruvian company Karinto S.A.C. including its production company Bocaditas Nacionales (with three production facilities in Peru) from the Hayashida family of Lima in 2009, adding the Karito brand to its product line, including Cuates, Fripapas, and Papi Frits.[80]

The company started[when?] a new market strategy to sell its Pepsi Cola product in Mexico, stating that about one-third of the population has difficulty pronouncing "Pepsi". With manufacture and sales of its product under the label 'Pécsi', the advertisement campaign features the Mexican soccer celebrity Cuauhtémoc Blanco. In 2009, PepsiCo had previously used the same strategy successfully in Argentina.[81][82]

Pepsico will market and distribute Starbucks products in several Latin American countries for 2016.[83]

The division contributed 13 percent of PepsiCo's net revenues in 2015.[66]

Europe

PepsiCo began to expand its distribution in Europe in the 1980s, and in 2015 it made up 17 percent of the company's global net revenue.[66] Unlike PepsiCo's Americas business segments, both foods and beverages are manufactured and marketed under one umbrella division in this region, known as PepsiCo Europe. The primary brands sold by PepsiCo in Europe include Pepsi-Cola beverages, Frito-Lay snacks, Tropicana juices, and Quaker food products, as well as regional brands unique to Europe such as Walkers crisps, Copella, Paw Ridge, Snack-a-Jack, Duyvis, and others. PepsiCo also produces and distributes the soft drink 7UP in Europe via license agreement. PepsiCo has 3 sites in South Africa (Isando, Parrow, and Prospecton) which produce Lay's and Simba chips.[71]

PepsiCo's European presence expanded in Russia in 2009 as the company announced a US$1B investment,[84] and with its acquisition of Russian juice and dairy product brand Wimm-Bill-Dann Foods in December 2010 and Lebedyansky juice producer in March 2008.[85] According to Reuters, "PepsiCo reported that in 2017, its Russian operations generated net revenue of US$3.23 billion, which made up 5.1 percent of the company's total net revenue."[86] Following the 2022 Russian invasion of Ukraine, a number of companies faced growing pressure to halt operations in Russia after not initially doing so.[87][88][89][90][91][92] On March 8, 2022, PepsiCo announced in a letter from CEO Laguarta the "suspension of the sale of Pepsi-Cola ... our global beverage brands in Russia, including 7 Up and Mirinda ... [and] capital investments and all advertising and promotional activities in Russia." However, PepsiCo maintained it had a "responsibility" to continue to sell "milk and other dairy offerings, baby formula and baby food", and that "[b]y continuing to operate, we will also continue to support the livelihoods of our 20,000 Russian associates and the 40,000 Russian agricultural workers in our supply chain".[93] In July 2022, it was announced that PepsiCo will rebrand its products in Russia to PepsiCo Russian brands such as Evervess and Frustyle, in response to the Russian invasion.[94] In September 2023, the Ukrainian National Agency on Corruption Prevention listed PepsiCo as a “war sponsor” for continuing to operate in Russia and, in particular, paying taxes.[95]

Africa, Middle East, South Asia (AMESA)

The AMESA sector consists of the Africa, Middle East and South Asia regions, and features many leading global and local snack brands including Lay's, Cheetos, and Doritos, along with local favorites such as Chipsy (Egypt), Simba (South Africa) and Kurkure (India and Pakistan), as well as various beverage brands including 7UP, Pepsi, Aquafina, Mtn Dew, Mirinda, and Sting. The AMESA sector covers a wide span of developing and emerging markets, including the key countries of Egypt, India, Saudi Arabia, Pakistan and South Africa. In 2020, PepsiCo acquired Pioneer Foods, a leading food and beverage company in South Africa, adding its robust, well-known brands including Weet-Bix, Bokomo and Ceres to PepsiCo's portfolio. The Pioneer Foods acquisition is key to PepsiCo's growth strategy across the entire African continent.[68]

In addition to the production and sales of several worldwide Pepsi-Cola, Quaker Foods, and Frito-Lay beverage and food product lines (including Pepsi and Doritos), this segment of PepsiCo's business markets regional brands such as Mirinda, Kurkure, and Red Rock Deli, among others.[71] While PepsiCo owns its own manufacturing and distribution facilities in certain parts of these regions, more of this production is conducted via alternate means such as licensing (which it does with Aquafina), contract manufacturing, joint ventures, and affiliate operations. PepsiCo's businesses in these regions, as of 2015, contributed 10 percent to the company's net revenue worldwide.[66]

In 1992, the Pepsi Number Fever marketing campaign in the Philippines accidentally distributed 800,000 winning bottle caps for a 1 million peso grand prize, leading to riots and the deaths of five people.[96]

In August 2012, PepsiCo signed an agreement with a local Myanmar distributor to sell its soft drinks after a 15-year break to re-enter the country.[97]

SodaStream, which PepsiCo acquired in 2018 is based in Israel, while Sabra (which PepsiCo co-owns with the Israeli food conglomerate Strauss Group) holds a 60% market share for hummus sales in the United States as of 2015.[98][99] The Strauss Group produces and distributes Frito-Lay products in Israel.

Asia Pacific, Australia/New Zealand, China (APAC)

In 1998 Pepsico purchased Smith's Snackfood Company from United Biscuits.[100] In 2006 PepsiCo purchased Bluebird Foods from Burns Philp.[101]

Corporate governance

Headquartered in Harrison, New York, in the hamlet of Purchase, with research and development headquarters in Valhalla, New York, PepsiCo's Chairman and CEO is Ramon Laguarta.[102] The board of directors is composed of eleven outside directors as of 2010, including Ray Lee Hunt, Shona Brown, Victor Dzau, Arthur C. Martinez, Sharon Percy Rockefeller, Daniel Vasella, Dina Dublon, Ian M. Cook, Alberto Ibargüen, and Lloyd G. Trotter. Former top executives at PepsiCo include Steven Reinemund, Roger Enrico, D. Wayne Calloway, John Sculley, Michael H. Jordan, Donald M. Kendall, Christopher A. Sinclair, Irene Rosenfeld, David C. Novak, Brenda C. Barnes, and Alfred Steele.

On October 1, 2006, former Chief Financial Officer and President Indra Nooyi replaced Steve Reinemund as chief executive officer. Nooyi remained as the corporation's president, and became Chairman of the Board in May 2007, later (in 2010) being named No.1 on Fortune's list of the "50 Most Powerful Women"[103] and No.6 on Forbes' list of the "World's 100 Most Powerful Women".[104] PepsiCo received a 100 percent rating on the Corporate Equality Index released by the LGBT-advocate group Human Rights Campaign starting in 2004, the third year of the report.[105]

In November 2014, the firm's president Zein Abdalla announced he would be stepping down from his position at the firm by the end of 2014.[106] In 2017, Ramon Laguarta became the president and became its CEO in 2018.

Ownership

The 10 largest shareholder of PepsiCo as of December 2023 were:[107]

Headquarters

The PepsiCo headquarters are located in the hamlet of Purchase, New York, in the town and village of Harrison, New York. It was one of the last architectural works by Edward Durell Stone. It consists of seven three-story buildings. Each building is connected to its neighbor through a corner. The property includes the Donald M. Kendall Sculpture Gardens with 45 contemporary sculptures open to the public. Works include those of Alexander Calder, Henry Moore, and Auguste Rodin. Westchester Magazine stated "The buildings' square blocks rise from the ground into low, inverted ziggurats, with each of the three floors having strips of dark windows; patterned pre-cast concrete panels add texture to the exterior surfaces."[108] In 2010 the magazine ranked the building as one of the ten most beautiful buildings in Westchester County.[108]

During the 1960s, PepsiCo had its headquarters in 500 Park Avenue in Midtown Manhattan, New York City.[109] In 1956 PepsiCo paid US$2 million for the previous building at the site.[110] PepsiCo built 500 Park Avenue in 1960.[111] In 1966, Mayor of New York City John Lindsay started a private campaign to convince PepsiCo to remain in New York City.[112] Six months later, the company announced that it was moving to 112 acres (45 ha) on the Blind Brook Polo Club in Purchase.[113]

Charitable activities

Billboard of Pepsi-Cola in Venezuela (ES)

PepsiCo has maintained a philanthropic program since 1962 called the PepsiCo Foundation,[114] in which it primarily funds "nutrition and activity, safe water and water usage efficiencies,[115] and education", according to the foundation's website.[116] In 2009, US$27.9 million was contributed through this foundation, including grants to the United Way[117] and YMCA,[118] among others.

In 2009, PepsiCo launched an initiative called the Pepsi Refresh Project, For the first time in 23 years, PepsiCo did not invest in Super Bowl advertising for its iconic brand. Instead, the company diverted this US$20 million to the social media-fueled Pepsi Refresh Project: PepsiCo's innovative cause-marketing program in which consumers submitted ideas for grants for health, environmental, social, educational, and cultural causes.[119][120] in which individuals submit and vote on charitable and nonprofit collaborations.[121] The main recipients of grants as part of the refresh project are community organizations with a local focus and nonprofit organizations, such as a high school in Michigan that—as a result of being selected in 2010—received US$250,000 towards construction of a fitness room.[122] Following the Gulf of Mexico oil spill in the spring of 2010, PepsiCo donated US$1.3 million to grant winners determined by popular vote.[123] As of October 2010, the company had provided a cumulative total of US$11.7 million in funding, spread across 287 ideas of participant projects from 203 cities in North America.[124] In late 2010, the refresh project was reported to be expanding to include countries outside of North America in 2011.[125]

Working conditions

Main article: 2021 Frito-Lay strike

In July 2021, Frito-Lay, a subsidiary of PepsiCo became the subject to media attention over poor working conditions at its plant in Topeka.[126][127] These conditions, which allegedly include forced overtime and 84-hour workweeks for months, led to a strike involving hundreds of workers at the Topeka location. The strike began on July 5 and ended on July 23, after ratifications of a two-year contract that guarantees workers at least one day off each week and raised wages.[127][128]

Frito-Lay company is based in Texas

Environmental record

Rainforests and palm oil

PepsiCo Palm Oil Commitments[129] published in May 2014 were welcomed by media as a positive step towards ensuring that the company's palm oil purchases will not contribute to deforestation and human rights abuses in the palm oil industry. NGOs warned[130] that the commitments did not go far enough, and in light of the deforestation crisis in Southeast Asia, have called on the company to close the gaps in its policies immediately.

Genetically modified ingredients

PepsiCo has contributed US$1,716,300 to oppose the passage of California Proposition 37, which would mandate the disclosure of genetically modified crops used in the production of California food products.[131][132][133] PepsiCo believes "that genetically-modified products can play a role in generating positive economic, social and environmental contributions to societies around the world; particularly in times of food shortages."[134]

Water usage (India, U.S., U.K.)

PepsiCo's usage of water was the subject of controversy in India in the early and mid-2000s, in part because of the company's alleged impact on water usage in a country where water shortages are a perennial issue. In this setting, PepsiCo was perceived by India-based environmental organizations as a company that diverted water to manufacture a discretionary product, making it a target for critics at the time.[135]

As a result, in 2003 PepsiCo launched a country-wide program to achieve a "positive water balance" in India by 2009.[136] In 2007, PepsiCo's then-CEO Indra Nooyi made a trip to India to address water usage practices in the country, prompting prior critic Sunita Narain, director of the Centre for Science & Environment (CSE), to note that PepsiCo "seem(s) to be doing something serious about water now."[135] According to the company's 2009 corporate citizenship report,[137] as well as media reports at the time,[138] the company (in 2009) replenished nearly six billion liters of water within India, exceeding the aggregate water intake of approximately five billion liters by PepsiCo's India manufacturing facilities.[137]

Water usage concerns have arisen at times in other countries where PepsiCo operates. In the U.S., water shortages in certain regions resulted in increased scrutiny on the company's production facilities, which were cited in media reports as being among the largest water users in cities facing drought—such as Atlanta, Georgia.[139][140] In response, the company formed partnerships with non-profit organizations such as the Earth Institute and Water.org, and in 2009 began cleaning new Gatorade bottles with purified air instead of rinsing with water, among other water conservation practices.[141] In the United Kingdom, also in response to regional drought conditions, PepsiCo snacks brand Walkers' reduced water usage at its largest potato chip facility by 45 percent between the years 2001 and 2008. In doing so, the factory used machinery that captured water naturally contained in potatoes, and used it to offset the need for outside water.[142][143]

As a result of water reduction practices and efficiency improvements, PepsiCo in 2009 saved more than 12 billion liters of water worldwide,[144] compared to its 2006 water usage. Environmental advocacy organizations including the Natural Resources Defense Council and individual critics such as Rocky Anderson (mayor of Salt Lake City, Utah) voiced concerns in 2009, noting that the company could conserve additional water by refraining from the production of discretionary products such as Aquafina.[145] The company maintained its positioning of bottled water as "healthy and convenient", while also beginning to partially offset environmental impacts of such products through alternate means, including packaging weight reduction.[145]

Pesticide regulation (India)

See also: Pesticide regulation

PepsiCo's India operations were met with substantial resistance in 2003 and again in 2006, when an environmental organization in New Delhi made the claim that, based on its research, it believed that the levels of pesticides in PepsiCo (along with those from rival The Coca-Cola Company), exceeded a set of proposed safety standards on soft drink ingredients that had been developed by the Bureau of Indian Standards.[146] PepsiCo denied the allegations, and India's health ministry has also dismissed the allegations—both questioning the accuracy of the data compiled by the CSE, as it was tested by its own internal laboratories without being verified by outside peer review.[147][148] The ensuing dispute prompted a short-lived ban on the sale of PepsiCo and The Coca-Cola Company soft drinks within India's southwestern state of Kerala in 2006;[149] however this ban was reversed by the Kerala High Court one month later.[150]

In November 2010, the Supreme Court of India invalidated a criminal complaint filed against PepsiCo India by the Kerala government, on the basis that the beverages did meet local standards at the time of the allegations. The court ruling stated that the "percentage of pesticides" found in the tested beverages was "within the tolerance limits subsequently prescribed in respect of such product" because at the time of testing "there was no provision governing pesticide adulteration in cold drinks."[151][152] In 2010, PepsiCo was among the 12 multinational companies that displayed "the most impressive corporate social responsibility credentials in emerging markets", as determined by the U.S. Department of State.[153] PepsiCo's India unit received recognition on the basis of its water conservation and safety practices and corresponding results.[154]

Packaging and recycling

Environmental advocates have raised concern over the environmental impacts surrounding the disposal of PepsiCo's bottled beverage products in particular, as bottle recycling rates for the company's products in 2009 averaged 34 percent within the U.S.[155] In 2019, BreakFreeFromPlastic named PepsiCo a top 10 global plastic polluter for the second year in a row.[156] The company has employed efforts to minimize these environmental impacts via packaging developments combined with recycling initiatives. In 2010, PepsiCo announced a goal to create partnerships that prompt an increase in the beverage container recycling rate in the U.S. to 50 percent by 2018.[157]

One strategy enacted to reach this goal has been the placement of interactive recycling kiosks called "Dream Machines" in supermarkets, convenience stores, and gas stations, with the intent of increasing access to recycling receptacles.[158][159] The use of resin to manufacture its plastic bottles has resulted in reduced packaging weight, which in turn reduces the volume of fossil fuels required to transport certain PepsiCo products. The weight of Aquafina bottles was reduced nearly 40 percent, to 15 grams, with a packaging redesign in 2009. Also in that year, PepsiCo brand Naked Juice began production and distribution of the first 100 percent post-consumer recycled plastic bottle.[160]

On March 15, 2011, PepsiCo unveiled the world's first plant-based PET bottle. The bottle is made from plant-based materials, such as switch grass, corn husks, and pine bark, and is 100% recyclable. PepsiCo plans to reuse more by-products of its manufacturing processes such as orange peels and oat hulls in the bottles. PepsiCo has identified methods to create a molecular structure that is the same as normal petroleum-based PET—which will make the new bottle technology, dubbed "Green Bottle", similar to Coke's "PlantBottle" idea from 2009, which feel the same as normal PET. PepsiCo have said to pilot production in 2012, and upon successful completion of the pilot, intends moving to full-scale commercialization, however in 2021 there are still no records of such bottles being produced.[161]

In a bid to reduce packaging consumption, in recent years the PepsiCoPartners launched as a service offering carbonated drinks dispensers within the US. The dispensers are currently being trialed in large corporate offices and universities.[162]

In 2020 PepsiCo teamed up with French biochemistry startup Carbios in order to promote and establish a new recycling method for used plastic bottles. This method uses enzymes to dissolve plastic very thoroughly and the final leftovers can be used to produce textiles.[163]

Energy usage and carbon footprint

PepsiCo, along with other manufacturers in its industry, has drawn criticism from environmental advocacy groups for the production and distribution of plastic product packaging, which consumed an additional 1.5 billion US gallons (5,700,000 m3) of petrochemicals in 2008. These critics have also expressed apprehension over the production volume of plastic packaging, which results in the emission of carbon dioxide.[164] Beginning largely in 2006, PepsiCo began development of more efficient means of producing and distributing its products using less energy,[165] while also placing a focus on emissions reduction.[164] In a comparison of 2009 energy usage with recorded usage in 2006, the company's per-unit use of energy was reduced by 16 percent in its beverage plants and 7 percent in snack plants.[137]

In 2009, Tropicana (owned by PepsiCo) was the first brand in the U.S. to determine the carbon footprint of its orange juice product, as certified by the Carbon Trust, an outside auditor of carbon emissions.[166] Also in 2009, PepsiCo began the test deployment of so-called "green vending machines", which reduce energy usage by 15 percent in comparison to average models in use. It developed these machines in coordination with Greenpeace, which described the initiative as "transforming the industry in a way that is going to be more climate-friendly to a great degree."[166]

PepsiCo has announced a global company goal of transitioning its electricity sources to 100% renewable energy, although they did not specify a specific year of which this goal would hypothetically occur at. PepsiCo has additionally also publicly announced its goal of decreasing its main operation's greenhouse gas emissions by 75% as compared to the 2015 baseline, by 2030.[167] Pepsico has succeeded in achieving 23% of their absolute emissions target reduction as of 2022.[167]

Product nutrition

According to its 2009 annual report, PepsiCo states that it is "committed to delivering sustainable growth by investing in a healthier future for people and our planet",[65][137] which it has defined in its mission statement since 2006 as "Performance with Purpose".[168] According to news and magazine coverage on the subject in 2010, the objective of this initiative is to increase the number and variety of healthier food and beverage products made available to its customers,[169] employ a reduction in the company's environmental impact,[170] and to facilitate diversity and healthy lifestyles within its employee base.[citation needed] Its activities in regards to the pursuit of its goals—namely environmental impacts of production and the nutritional composition of its products—have been the subject of recognition from health and environmental advocates and organizations, and at times have raised concerns among its critics. As the result of a more recent focus on such efforts, "critics consider (PepsiCo) to be perhaps the most proactive and progressive of the food companies", according to former New York Times food industry writer Melanie Warner in 2010.[138]

Product diversity

From its founding in 1965 until the early 1990s, the majority of PepsiCo's product line consisted of carbonated soft drinks and convenience snacks. PepsiCo broadened its product line substantially throughout the 1990s and 2000s with the acquisition and development of what its CEO deemed as "good-for-you" products, including Quaker Oats, Naked Juice, and Tropicana orange juice.[171] Sales of such healthier-oriented PepsiCo brands totaled US$10 billion in 2009, representing 18 percent of the company's total revenue in that year. This movement into a broader, healthier product range has been moderately well received by nutrition advocates; though commentators in this field have also suggested that PepsiCo market its healthier items as aggressively as less-healthy core products.[172]

In response to shifting consumer preferences and in part due to increasing governmental regulation, PepsiCo in 2010 indicated its intention to grow this segment of its business, forecasting that sales of fruit, vegetable, whole grain, and fiber-based products will amount to US$30 billion by 2020.[173] To meet this intended target, the company has said that it plans to acquire additional health-oriented brands while also making changes to the composition of existing products that it sells.[173]

Ingredient changes in Pepsi

Public health advocates have suggested that there may be a link between the ingredient makeup of PepsiCo's core snack and carbonated soft drink products and rising rates of health conditions such as obesity and diabetes. The company aligns with personal responsibility advocates, who assert that food and beverages with higher proportions of sugar or salt content are fit for consumption in moderation by individuals who also exercise on a regular basis.[174]

Changes to the composition of its products with nutrition in mind have involved reducing fat content, moving away from trans-fats, and producing products in calorie-specific serving sizes to discourage overconsumption, among other changes.[169] One of the earlier ingredient changes involved sugar and caloric reduction, with the introduction of Diet Pepsi in 1964 and Pepsi Max in 1993—both of which are variants of their full-calorie counterpart, Pepsi. More recent changes have consisted of saturated fat reduction, which Frito-Lay reduced by 50% in Lay's and Ruffles potato chips in the U.S. between 2006 and 2009.[174] Also in 2009, PepsiCo's Tropicana brand introduced a new variation of orange juice (Trop50) sweetened in part by the plant Stevia, which reduced calories by half.[174] Since 2007, the company also made available lower-calorie variants of Gatorade, which it calls "G2".[175] On May 5, 2014, PepsiCo announced that the company would remove brominated vegetable oil from many of its products, but a timeframe was not discussed.[176]

Distribution to children

As public perception placed additional scrutiny on the marketing and distribution of carbonated soft drinks to children, PepsiCo announced in 2010 that by 2012, it will remove beverages with higher sugar content from primary and secondary schools worldwide.[177] It also, under voluntary guidelines adopted in 2006, replaced "full-calorie" beverages in U.S. schools with "lower-calorie" alternatives, leading to a 95 percent reduction in the 2009 sales of full-calorie variants in these schools in comparison to the sales recorded in 2004.[178] In 2008, in accordance with guidelines adopted by the International Council of Beverages Associations, PepsiCo eliminated the advertising and marketing of products that do not meet its nutrition standards, to children under the age of 12.[179][180]

In 2010, Michelle Obama initiated a campaign to end childhood obesity (titled Let's Move!), in which she sought to encourage healthier food options in public schools, improved food nutrition labeling, and increased physical activity for children. In response to this initiative, PepsiCo, along with food manufacturers Campbell Soup, Coca-Cola, General Mills, and others in an alliance referred to as the "Healthy Weight Commitment Foundation", announced in 2010 that the companies will collectively cut one trillion calories from their products sold by the end of 2012 and 1.5 trillion calories by the end of 2015.[181]

See also

References

  1. ^ "PepsiCo, Inc. 2023 Annual Report (Form 10-K)". U.S. Securities and Exchange Commission. February 9, 2024.
  2. ^ Child, Katharine (March 6, 2020). "PepsiCo purchase of Pioneer is finalised". Business Live. Retrieved December 9, 2021.
  3. ^ a b "About PepsiCo". PepsiCo, Inc. Official Website. Retrieved February 26, 2024.
  4. ^ "The Global 2000 2023". Forbes. Archived from the original on January 29, 2024. Retrieved February 7, 2024.
  5. ^ McVeigh, Karen (December 7, 2020). "Coca-Cola, Pepsi and Nestlé named top plastic polluters for third year in a row". The Guardian. ISSN 0261-3077. Retrieved March 29, 2021.
  6. ^ "Pepsi Cola's Long, Winding History". ThoughtCo. Retrieved May 16, 2019.
  7. ^ Leonard, Carl (August 28, 2013). "Caleb Bradham's soda fountain flavor "Brad's Drink" became Pepsi-Cola today in 1898. Now WE know em". Retrieved May 16, 2019.
  8. ^ "Guth v. Loft (Del. 1939) [Pepsi]". h2o.law.harvard.edu. Retrieved May 16, 2019.
  9. ^ "PepsiCo, Inc. Company History". Funding Universe. Retrieved December 14, 2010.
  10. ^ Antman, Rachel A. (September 29, 2006). "The Donald M. Kendall Sculpture Gardens". The New York Times. Retrieved December 15, 2010.
  11. ^ "PepsiCo Company Description (as filed with the SEC)". NASDAQ. Archived from the original on June 29, 2011. Retrieved December 15, 2010.
  12. ^ "PepsiCo to move to Nasdaq after nearly a century with NYSE". Reuters. December 8, 2017. Archived from the original on February 9, 2019. Retrieved May 14, 2019.
  13. ^ "Yum! Brands, Inc. Company History". Funding Universe. Retrieved December 15, 2010.
  14. ^ Stevenson, Tom (January 24, 1997). "PepsiCo to spin off Pizza Hut and KFC". The Independent (U.K.). London. Archived from the original on May 25, 2022. Retrieved December 15, 2010.
  15. ^ a b c "Pepsico Picks Name For Planned Spinoff". The New York Times. June 28, 1997. Retrieved December 14, 2010.
  16. ^ Hamstra, Mark (April 28, 1997). "PepsiCo sells Hot 'n Now, eyes other divestitures". Nation's Restaurant News. Retrieved December 15, 2010.[dead link‍]
  17. ^ Johnson, Greg (February 27, 1997). "Marie Callender Parent Buys East Side Mario's Chain". Los Angeles Times. Retrieved December 15, 2010.
  18. ^ Hamstra, Mark (August 25, 1997). "Papa Gino's to buy D'Angelo sub chain". Nation's Restaurant News. Archived from the original on February 18, 2007. Retrieved December 15, 2010.
  19. ^ Collins, Glenn (July 4, 1997). "Pepsico Selling California Pizza Kitchens to Investment Fund". The New York Times. Retrieved December 15, 2010.
  20. ^ Ogg, Jon (December 2, 2010). "Pepsi Acquisition of WBD Goes Much Deeper Into Russia". 24/7 Wall Street. Retrieved December 15, 2010.
  21. ^ Freudenheim, Milt (February 21, 1989). "Amer Group to Acquire Wilson Sporting Goods". The New York Times. Retrieved December 15, 2010.
  22. ^ "Norfolk Southern Corp. to Acquire North American Van Lines". Los Angeles Times. January 13, 1998. Retrieved December 15, 2010.
  23. ^ Hays, Constance L. (July 26, 1998). "Pepsico Buys Tropicana". The New York Times. Retrieved December 12, 2010.
  24. ^ "Pepsi Buys Quaker in $13.4B Stock Deal". ABC News. December 4, 2000. Retrieved December 12, 2010.
  25. ^ Herper, Matthew; Schiffman, Betsy (August 2, 2001). "Pepsi Bought Quaker. Now What?". Forbes. Retrieved December 12, 2010.
  26. ^ Kaplan, Andrew (April 2010). "What PepsiCo hopes to gain from the merger with its two largest bottlers" (PDF). Beverage World. Archived from the original (PDF) on November 28, 2010. Retrieved December 14, 2010.
  27. ^ "PepsiCo to Buy Rest of Russian Beverage Company". The New York Times. February 3, 2011. Retrieved October 24, 2011.
  28. ^ "Pepsi Concludes Wimm-Bill-Dann Buy In Largest Ever Foreign Acquisition Of Russian Company". Seeking Alpha. September 12, 2011. Retrieved October 24, 2011.
  29. ^ Kelleher, Jim (October 19, 2011). "Time to Snack on PepsiCo Shares". Barron's. Retrieved October 24, 2011.
  30. ^ "PepsiCo and Germany's Theo Muller Group to Enter U.S. Dairy Market With European-Style Premium Yogurt".
  31. ^ FoodNavigator-USA.com. "Muller Quaker Dairy JV ends in disappointment, but what went wrong?". FoodNavigator-USA.com. Retrieved March 13, 2017.
  32. ^ Moffat, Anne Riley (May 25, 2018). "PepsiCo Extends Bet on Clean Snack Foods With Bare Acquisition". Bloomberg.com. Retrieved June 18, 2018.
  33. ^ "PepsiCo buys Sodastream for $3.2bn". BBC News. August 20, 2018. Retrieved August 20, 2018.
  34. ^ "PepsiCo Enters Into Agreement To Acquire SodaStream International Ltd". PepsiCo. Retrieved August 20, 2018.
  35. ^ Iyengar, Rishi (August 20, 2018). "PepsiCo is buying SodaStream for $3.2 billion". CNNMoney. Retrieved August 21, 2018.
  36. ^ "PepsiCo completes $3.2 billion SodaStream acquisition". The Jerusalem Post | Jpost.com. Retrieved May 3, 2021.
  37. ^ beveragedaily.com (December 5, 2018). "PepsiCo completes SodaStream acquisition". beveragedaily.com. Retrieved May 3, 2021.
  38. ^ "PepsiCo sues four Indian farmers for using its patented Lay's potatoes". Reuters. April 26, 2019. Retrieved April 28, 2019.
  39. ^ a b c "PepsiCo offers to settle with Indian farmers it sued over potatoes for Lays chips". CNN. April 25, 2019. Retrieved April 28, 2019.
  40. ^ "Pepsi announces that it will leave Indonesia". IDN Financials. October 3, 2019. Retrieved October 29, 2019.
  41. ^ Yap, Mae Yen (October 9, 2019). "Pepsi will disappear from Indonesian market shelves by the end of October". Mashable. Retrieved October 29, 2019.
  42. ^ "PepsiCo Announces Definitive Agreement to Acquire BFY Brands Expanding Better-For-You Portfolio and Production Capabilities". CisonPR newswire. December 2, 2019. Retrieved December 2, 2019.
  43. ^ Eisen, Amelia Lucas, Sara (March 11, 2020). "PepsiCo to acquire energy drink maker Rockstar Energy in a $3.85 billion deal". CNBC. Retrieved March 11, 2020.{{cite web}}: CS1 maint: multiple names: authors list (link)
  44. ^ Cavale, Siddharth (January 14, 2021). "PepsiCo aims for net-zero greenhouse gas emissions by 2040". Reuters. Retrieved January 14, 2021.
  45. ^ "PepsiCo to sell Tropicana, other juice brands for $3.3 billion". Reuters. August 3, 2021. Retrieved August 3, 2021.
  46. ^ Lucas, Amelia (August 3, 2021). "PepsiCo to sell Tropicana and other juice brands for $3.3 billion". NBC News. Retrieved August 7, 2021.
  47. ^ "PepsiCo acquires $550 million stake in energy drink maker Celsius". The Bharat Express News. August 1, 2022. Retrieved August 1, 2022.
  48. ^ Lucas, Amelia (August 2022). "PepsiCo takes $550 million stake in energy drink maker Celsius". CNBC. Retrieved August 1, 2022.
  49. ^ Pyke, Jim (October 31, 2010). "Cola Wars: Considering a Coke and Pepsi Pairs Trade". Seeking Alpha. Retrieved December 15, 2010.
  50. ^ a b c d e f "2009 PepsiCo, Inc. SEC Form 10-K". Businessweek. February 23, 2010. Archived from the original on May 2, 2013. Retrieved December 12, 2010.
  51. ^ "PepsiCo CEO Discusses Q3 2010 Results -Earnings Call Transcript". The Street / Seeking Alpha. October 7, 2010. Archived from the original (Transcript) on October 12, 2010. Retrieved December 15, 2010.
  52. ^ Glinton, Sonari (March 10, 2014). "What Pepsi Can Teach Us About Soft (Drink) Power In Russia". NPR. Retrieved February 26, 2024.
  53. ^ Lewis, Flora (May 10, 1989). "FOREIGN AFFAIRS; Soviets Buy American". The New York Times.
  54. ^ a b c Musgrave, Paul (November 27, 2021). "The Doomed Voyage of Pepsi's Soviet Navy". Foreign Policy. Retrieved June 24, 2022.
  55. ^ Clarke, Kaiyah (May 24, 2022). "Fact Check: NO Pepsi Navy – U.S.-Soviet Deal Did NOT Make Pepsi The '6th Most Powerful Military In The World'". Lead Stories. Retrieved June 24, 2022.
  56. ^ "When the Soviet Union Paid Pepsi in Warships". AtlasObscura. January 12, 2018. Retrieved February 20, 2024.
  57. ^ Conradi, Peter (April 10, 1990). "PEPSICO SETS $3 BILLION BARTER DEAL WITH SOVIETS". Washington Post. Retrieved June 24, 2022.
  58. ^ Ewbank, Anne (January 12, 2018). "When the Soviet Union Paid Pepsi in Warships". Atlas Obscura. Retrieved June 24, 2022.
  59. ^ Ping Chan, Szu (June 12, 2019). "When Pepsi was swapped for Soviet warships". BBC News. Retrieved June 24, 2022.
  60. ^ Parks, Michael (July 21, 1992). "Doing Business : Bloc-Buster Deal: Pepsico's $3-billion-plus Soviet expansion was the 'deal of the century.' Then, the deal crumbled along with the country. Here's how Pepsi put it back together". Los Angeles Times. Retrieved June 24, 2022.
  61. ^ Clarke, Kaiyah (May 24, 2022). "Fact Check: NO Pepsi Navy -- U.S.-Soviet Deal Did NOT Make Pepsi The '6th Most Powerful Military In The World'". Lead Stories. Retrieved June 24, 2022.
  62. ^ "PepsiCo, Inc.: Shareholders Board Members Managers and Company Profile | US7134481081 | MarketScreener". www.marketscreener.com. Retrieved March 7, 2024.
  63. ^ "PepsiCo's Annual Reports and Proxy Statements". www.pepsico.com. Retrieved November 7, 2018.
  64. ^ "Fortune 500 Companies 2018: Who Made the List". Fortune. Archived from the original on January 15, 2019. Retrieved November 10, 2018.
  65. ^ a b c d "PepsiCo Annual Report 2009" (PDF). PepsiCo, Inc. p. 13. Archived from the original (PDF) on March 31, 2010. Retrieved December 13, 2010.
  66. ^ a b c d e f g h "2015 Annual Report" (PDF). PepsiCo. Archived from the original (PDF) on March 27, 2016. Retrieved April 2, 2016.
  67. ^ "Product Information". PepsiCo. Retrieved September 3, 2020.
  68. ^ a b "About The Company". PepsiCo. Retrieved December 9, 2021.
  69. ^ "PepsiCo SEC Filings". U.S. Securities and Exchange Commission. February 11, 2016. Retrieved April 2, 2016.
  70. ^ Gorham, Philip (October 8, 2009). "Pepsi's Beverage Business Flat in and also made 10b of toys for children in Africa 3Q". Morningstar. Archived from the original on July 14, 2011. Retrieved December 11, 2010.
  71. ^ a b c d "Profile: PepsiCo, Inc. (PEP)". Reuters. Archived from the original on October 7, 2010. Retrieved December 7, 2010.
  72. ^ "Pepsi just revealed a new solution to declining sales". Business Insider. Retrieved November 23, 2016.
  73. ^ "Frito-Lay North America, Inc. Company Profile". Yahoo! Finance. Archived from the original on February 28, 2003. Retrieved December 15, 2010.
  74. ^ "PepsiCo, Inc. (NYSE:PEP): Second Quarter 2010 Earnings Preview". IStock Analyst. July 15, 2010. Archived from the original on July 17, 2010. Retrieved December 11, 2010.
  75. ^ Bagh, Carl (May 21, 2010). "Key facts about PepsiCo". International Business Times. Archived from the original on April 6, 2012. Retrieved December 15, 2010.
  76. ^ "PepsiCo to use over 700 EVs for Frito-Lay deliveries by year's end". Fox Business. April 20, 2023. Archived from the original on January 14, 2024. Retrieved February 27, 2024.
  77. ^ Troester, Maura; Salamie, David (2002). "Company History: Quaker Foods North America". International Directory of Company Histories. Retrieved December 15, 2010.
  78. ^ Gould, Jens Erik (July 13, 2010). "Pepsi's Mexico Chief Sees Sales Climbing 4% This Year as Economy Recovers". Bloomberg L.P. Archived from the original on November 4, 2012. Retrieved December 15, 2010.
  79. ^ Doherty, Jacqueline (November 30, 2009). "At Pepsi, the Glass Is Half Full". Barron's. Retrieved December 15, 2010.
  80. ^ Flores, Clorinda (April 19, 2009). "Dueña de Pepsi Cola compra fábrica Karinto". Correo Lima. Archived from the original on August 14, 2011. Retrieved February 22, 2011.
  81. ^ Breakmedia "Pepsi now selling as 'Pécsi' in Mexico" "Pepsi now selling as 'Pecsi' in Mexico" Archived August 8, 2012, at the Wayback Machine Accessed May 8, 2011.
  82. ^ Pepsi (o Pecsi) para todos - CNN Expansión, 24 de octubre de 2011
  83. ^ Starbucks, PepsiCo sign agreement for Ready-To-Drink coffee, energy beverages in Latin America Archived October 17, 2015, at the Wayback Machine - Reuters, July 23, 2015
  84. ^ "PepsiCo and Pepsi Bottling Group to Invest $1 Billion In Russia 50 Years After Russians Had Their First Taste of Pepsi-Cola". PepsiCo. July 6, 2009. Retrieved February 24, 2012.
  85. ^ "PepsiCo to buy stake of Wimm-Bill-Dann for $3.8B". MSNBC / Associated Press. December 2, 2010. Archived from the original on December 4, 2010. Retrieved December 15, 2010.
  86. ^ "Factbox: U.S. companies with exposure to Russia". Reuters. August 9, 2018.
  87. ^ "Ukraine invasion: Attention turns to McDonald's and crypto exchanges, yet to take a stand against Russia". Sky News. Retrieved March 6, 2022.
  88. ^ Russ, Hilary (March 4, 2022). "McDonald's, Pepsi, others should consider pausing Russia operations -NY pension fund". Reuters. Retrieved March 6, 2022.
  89. ^ Winchester, Levi (March 4, 2022). "McDonald's under pressure for opening as 'normal' in Russia despite Ukraine war". mirror. Retrieved March 6, 2022.
  90. ^ Creswell, Julie (March 5, 2022). "Fast-food chains and food producers stay open in Russia, and mostly quiet about Ukraine". The New York Times. ISSN 0362-4331. Retrieved March 6, 2022.
  91. ^ "Despite war in Ukraine, Coca Cola, McDonalds, and Pepsi remain operational in Russia". Hospitality & Catering News. March 5, 2022. Retrieved March 6, 2022.
  92. ^ "Coca-Cola, Pepsi face boycotts over continued Russia operations". RochesterFirst. March 5, 2022. Retrieved March 6, 2022.
  93. ^ "PepsiCo suspends production and sale of Pepsi-Cola and other global beverage brands in Russia". PepsiCo, Inc. Retrieved March 8, 2022.
  94. ^ Перцева, Владимир Зайвый, Евгения (July 4, 2022). "PepsiCo запустила продажи Evervess и Frustyle вместо Pepsi". Известия (in Russian). Retrieved March 9, 2023.{{cite web}}: CS1 maint: multiple names: authors list (link)
  95. ^ "Украина внесла в список "спонсоров войны" PepsiCo и Mars". RBC (in Russian). September 1, 2023.
  96. ^ Drogin, Bob (July 26, 1993). "Pepsi-Cola Uncaps A Lottery Nightmare -- Bombings, Threats Follow Contest With Too Many Winners". Los Angeles Times. Retrieved October 9, 2015.
  97. ^ "Is Myanmar a business opportunity bonanza?". Investvine.com. January 15, 2013. Retrieved February 3, 2013.
  98. ^ Watson, Elaine (September 29, 2016). "Sabra 'well on its way' to becoming our next $1bn brand, says PepsiCo". Foodnavigator-USA.com, William Reed Business Media.
  99. ^ Goodson, Scott (June 5, 2015). "The Surprising Rise of Hummus in America". Huffington Post.
  100. ^ No intervention in Smith's sale Australian Competition & Consumer Commission August 21, 1998
  101. ^ Burns Philp set to sell Bluebird Australian Financial Review September 27, 2006
  102. ^ "Leadership - PepsiCo". www.pepsico.com. Retrieved October 3, 2018.
  103. ^ Shambora, Jessica; Kowitt, Beth (September 30, 2010). "50 Most Powerful Women". Fortune. Retrieved December 10, 2010.
  104. ^ "The World's 100 Most Powerful Women". Forbes. 2010. Retrieved December 10, 2010.
  105. ^ Henneman, Todd (October 12, 2004). "In Good Companies". The Advocate. p. 44. Retrieved October 2, 2009.
  106. ^ "PepsiCo President Zein Abdalla to retire" (Press release). Reuters. November 6, 2014. Archived from the original on September 24, 2015. Retrieved July 1, 2017.
  107. ^ "PepsiCo, Inc. (PEP) Stock Major Holders - Yahoo Finance". finance.yahoo.com. Retrieved March 7, 2024.
  108. ^ a b "Our 10 Most Beautiful Buildings". Westchester Magazine. November 17, 2010. Retrieved April 6, 2021.
  109. ^ King, Seth S. (February 16, 1967). "American Can Co. Plans to Leave City; Plans to Go to Greenwich" (PDF). The New York Times. p. 1. ISSN 0362-4331. Retrieved April 6, 2021.
  110. ^ "$2,000,000 is Paid for City Building; 500 Park Ave. Auctioned to Pepsi-Cola, Which Will Build a New Headquarters" (PDF). The New York Times. June 13, 1956. p. 34. ISSN 0362-4331. Retrieved April 6, 2021.
  111. ^ D. J. (July 23, 1972). "The Bunshaft style". The New York Times. ISSN 0362-4331. Retrieved April 6, 2021.
  112. ^ Reeves, Richard (February 11, 1967). "Mayor Tried to Halt Move; City Attempted to Dissuade Pepsi" (PDF). The New York Times. p. 1. ISSN 0362-4331. Retrieved April 6, 2021.
  113. ^ Folsom, Merrill (February 11, 1967). "Pepsi-Cola Planning to Leave City for Westchester; New Use for Club Fought Pepsi-Cola Plans Move From City" (PDF). The New York Times. p. 1. ISSN 0362-4331. Retrieved April 6, 2021.
  114. ^ "PepsiCo Foundation Announces Support for Sustainable Water Initiatives". Philanthropy News Digest. January 23, 2008. Archived from the original on May 16, 2010. Retrieved December 7, 2010.
  115. ^ Winston, Megan (July 22, 2010). "Irrigation project success in Mali". Columbia University Earth Institute Blog. Retrieved December 7, 2010.
  116. ^ "PepsiCo Foundation". PepsiCo, Inc. Retrieved December 8, 2010.
  117. ^ Ferrell, O.C.; Ferrell, Linda. "PepsiCo's Journey Toward an Ethical and Socially Responsible Culture" (PDF). Daniels Fund Business Ethics Initiative, University of New Mexico. Archived from the original (PDF) on July 20, 2011. Retrieved December 13, 2010.
  118. ^ "YMCA, PepsiCo Join Forces to Promote a Healthier America". Philanthropy News Digest. March 10, 2006. Archived from the original on October 5, 2007. Retrieved December 12, 2010.
  119. ^ Norton, Michael I.; Avery, Jill (September 20, 2011). "The Pepsi Refresh Project: A Thirst for Change". Harvard Business School.
  120. ^ Grinton, Claire (February 17, 2010). "Pepsi's Refresh Everything Vs. Coke's Live Positively: Which Soda Wins The War?". The Huffington Post. Retrieved December 12, 2010.
  121. ^ Davis, Lucia (October 20, 2010). "PepsiCo's Bonin Bough on performance with purpose". IMedia Connection. Archived from the original on October 22, 2010. Retrieved December 13, 2010.
  122. ^ "Mich. school wins grant to build weight room". Toledo, OH: ABC News Affiliate WTVG-TV. July 9, 2010. Archived from the original on June 29, 2011. Retrieved December 15, 2010.
  123. ^ "Oil Spill Aid Is Small, but Some Companies Step Up". The New York Times. August 2, 2010. Retrieved October 27, 2010.
  124. ^ Trigg, Delania (November 14, 2010). "Animal food bank puts Pepsi grant to good use". Gainesville Daily Register. Retrieved December 14, 2010.
  125. ^ Marshall, Jack (September 8, 2010). "Pepsi Re-Ups 'Refresh,' Extends Project Overseas". ClickZ. Retrieved December 14, 2010.
  126. ^ "Hundreds of Frito-Lay workers on strike in Topeka, citing forced overtime and 84-hour workweeks". The Washington Post. ISSN 0190-8286. Retrieved July 17, 2021.
  127. ^ a b "Frito-Lay strike hits 12 days, negotiations to resume Monday". KSNT News. July 17, 2021. Retrieved July 17, 2021.
  128. ^ Gregg, Aaron (July 26, 2021). "Frito-Lay workers end 19-day strike in Kansas with contract that guarantees one day off per week". Washington Post.
  129. ^ "PepsiCo Palm Oil Commitments" (PDF). PepsiCo. Archived from the original (PDF) on August 17, 2014. Retrieved November 21, 2014.
  130. ^ "All Eyes on PepsiCo: Will it Come Clean or Keep Trafficking Conflict Palm Oil?". RAN.org. Rainforest Action Network. Retrieved November 21, 2014.
  131. ^ Baertlein, Lisa; Gillam, Carey (August 16, 2012). "Prop 37: California GMO Fight Pits Big Food Against Activists". Huffington Post.
  132. ^ Behrsin, Pamela (August 22, 2012). CA Prop. 37 - GMO Labeling: Funding Update - Monsanto ($4M), Dupont ($4M), Pepsi ($1.7M) (Report). Archived from the original on September 8, 2012. Retrieved September 12, 2012.
  133. ^ Rice, Dave (September 4, 2012). "Public Sparring Between Prop 37 Supporters, Opponents Begins". San Diego Reader.
  134. ^ PepsiCo 2009 Proxy Statement (PDF) (Report). PepsiCo. March 24, 2009. Archived from the original (PDF) on September 2, 2009.
  135. ^ a b Brady, Diane (May 31, 2007). "Pepsi: Repairing a Poisoned Reputation in India". Businessweek Asia. Archived from the original on June 2, 2007. Retrieved December 11, 2010.
  136. ^ Chadha, Sanjeev (April 27, 2010). "Why PepsiCo is Building Dams in India". Green Biz. Retrieved December 13, 2010.
  137. ^ a b c d "2009 Sustainability Report Overview" (PDF). PepsiCo, Inc. 2009. Archived from the original (PDF) on August 21, 2010. Retrieved December 13, 2010.
  138. ^ a b Warner, Melanie (April 29, 2010). "Good News! PepsiCo's Indra Nooyi Solves the Obesity Crisis". BNet. Retrieved December 4, 2010.
  139. ^ Glennon, Robert Jerome (2009). Unquenchable: America's Water Crisis and What To Do About It. Island Press. pp. 25. ISBN 978-1-59726-436-5. gatorade plant water use atlanta.
  140. ^ Wheatley, Thomas. "Tap water wears a bow tie when it's put in a bottle and sold". Creative Loafing Atlanta. Retrieved December 7, 2010.
  141. ^ Gardner, Sarah (November 19, 2008). "Pepsi conserves water with Gatorade". Marketplace / Public Radio. Archived from the original on July 27, 2011. Retrieved December 11, 2010.
  142. ^ "PepsiCo to Recycle Potato Water". Environmental Leader. June 7, 2010. Archived from the original on May 12, 2011. Retrieved December 2, 2010.
  143. ^ Confino, Jo (May 26, 2010). "The water margin". The Guardian (U.K.). London. Retrieved December 2, 2010.
  144. ^ "PepsiCo releases water report". International Business Times. September 8, 2010. Archived from the original on September 11, 2010. Retrieved December 15, 2010.
  145. ^ a b Gunther, Marc (April 25, 2007). "Bottled water: No longer cool?". Fortune / CNN Money. Retrieved December 10, 2010.
  146. ^ Bremner, Brian (August 10, 2006). "India: Pesticide Claims Shake Up Coke and Pepsi". Bloomberg Businessweek. Archived from the original on August 20, 2006. Retrieved December 11, 2010.
  147. ^ Reeves, Philip (August 29, 2006). "Pesticide Scare Cripples Coke and Pepsi in India". NPR. Retrieved December 12, 2010.
  148. ^ Bremner, Brian (August 24, 2006). "Behind the Coke-Pepsi Pesticide Scare". Bloomberg Businessweek. Archived from the original on June 4, 2011. Retrieved December 11, 2010.
  149. ^ Majumder, Sanjoy (August 9, 2006). "Indian state bans Pepsi and Coke". BBC News. Retrieved September 23, 2006.
  150. ^ Bhattacharjee, Ashok (September 22, 2006). "Coca-Cola, PepsiCo Win Ruling Overturning India Ban". Bloomberg L.P. Archived from the original on November 4, 2012. Retrieved December 11, 2010.
  151. ^ "PepsiCo cheers verdict". Business Standard (Mumbai). November 19, 2010. Retrieved December 12, 2010.
  152. ^ Singh, Sanjay (November 19, 2010). "Pepsi gets reprieve in pesticide case". The Economic Times (India). Retrieved December 12, 2010.
  153. ^ "Ambassador Roemer Honors GE India and PepsiCo India". Embassy of the United States, New Delhi, India. December 13, 2010. Archived from the original on July 22, 2011. Retrieved December 15, 2010.
  154. ^ "GE, PepsiCo praised for CSR in emerging markets". Warc. September 10, 2010. Retrieved December 13, 2010.
  155. ^ "PepsiCo Uncaps Bottle Recycling Plan Starbucks Still Brewing". GreenBiz. March 26, 2010. Archived from the original on December 26, 2010. Retrieved December 9, 2010.
  156. ^ Segran, Elizabeth (November 1, 2019). "Coca-Cola, Nestlé, and PepsiCo are the world's biggest plastic polluters—again". Fast Company. Retrieved February 17, 2020.
  157. ^ Nusca, Andrew (April 22, 2010). "PepsiCo unveils smart 'Dream Machine' recycling kiosks". SmartPlanet. Archived from the original on April 25, 2010. Retrieved December 9, 2010.
  158. ^ "PepsiCo to Roll Out Recycling Kiosks". Supermarket News. April 22, 2010.
  159. ^ "PepsiCo, Coca-Cola Roll Out Recycling Initiatives". Environmental Leader. June 3, 2010. Archived from the original on June 5, 2010. Retrieved December 9, 2010.
  160. ^ Schwartz, Ariel (July 10, 2009). "Naked Juice Brings PET Bottles to the Mainstream". Fast Company. Archived from the original on July 13, 2009. Retrieved December 12, 2010.
  161. ^ "PepsiCo Develops World's First 100 Percent Plant-Based, Renewably Sourced PET Bottle" (Press release). PepsiCo. March 15, 2011. Retrieved June 18, 2012.
  162. ^ "PepsiCo Product Equipment and Displays". PepsiCo Partners. Retrieved May 21, 2020.
  163. ^ "Why PepsiCo, L'Oreal and Nestle are banking on this French plastics recycling startup". greenbiz.com. May 7, 2020. Retrieved January 21, 2020.
  164. ^ a b Geller, Martinne (March 30, 2009). "PepsiCo tests "green" vending machines". Reuters. Retrieved December 12, 2010.
  165. ^ Bruce, Bill (November 29, 2010). "Consumer goods industry initiatives on climate protection". FoodBev. Retrieved December 13, 2010.
  166. ^ a b Martin, Andrew (January 21, 2009). "How Green Is My Orange?". The New York Times. Retrieved December 8, 2010.
  167. ^ a b Qian, Duan; Dargusch, Paul; Hill, Genia (January 2022). "Carbon Management behind the Ambitious Pledge of Net Zero Carbon Emission—A Case Study of PepsiCo". Sustainability. 14 (4): 2171. doi:10.3390/su14042171. ISSN 2071-1050.
  168. ^ 2006 Annual Report (PDF) (Report). PepsiCo, Inc. March 5, 2007. pp. 2–3. Archived from the original (PDF) on September 2, 2009. Retrieved December 9, 2010.
  169. ^ a b "Pepsi gets a makeover". The Economist. March 25, 2010. Retrieved December 3, 2010.
  170. ^ Clancy, Heather (May 19, 2010). "PepsiCo practices performance with purpose in sustainability push". Smart Planet. Archived from the original on May 23, 2010. Retrieved December 15, 2010.
  171. ^ Mangalindan, JP (April 27, 2010). "PepsiCo CEO: 'If all consumers exercised...obesity wouldn't exist'". CNN Money / Fortune. Retrieved December 12, 2010.
  172. ^ Moore, Angela (December 6, 2007). "Indra Nooyi's Pepsi challenge". MarketWatch. Retrieved December 14, 2010.
  173. ^ a b Confino, Jo (May 26, 2010). "PepsiCo's 'big hairy audacious goals'". The Guardian. London. Retrieved December 14, 2010.
  174. ^ a b c Byrnes, Nanette (January 14, 2010). "Pepsi Brings In the Health Police". Bloomberg Businessweek. Archived from the original on January 21, 2010. Retrieved December 13, 2010.
  175. ^ "Pepsi unveils low-calorie Gatorade 'G2'". CNN Money. September 7, 2007. Retrieved December 13, 2010.
  176. ^ Kastrenakes, Jacob (May 6, 2014). "Coca-Cola and Pepsi removing controversial 'flame retardant' ingredient from all drinks". The Verge. Vox Media. Retrieved June 3, 2017.
  177. ^ Hack, Greg (March 16, 2010). "Pepsi to pull sugar-sweetened drinks from schools". The Kansas City Star. Retrieved December 12, 2010.
  178. ^ "PepsiCo yanking sugar from schools worldwide". Crains New York. Associated Press. March 16, 2010. Retrieved December 14, 2010.
  179. ^ Fredrix, Emily (March 16, 2010). "Pepsi Plans To Stop Selling Sugary Drinks In Schools Worldwide". The Huffington Post. Archived from the original on March 26, 2010. Retrieved December 14, 2010.
  180. ^ Gilbert, Sarah. "Is Pepsi's Removal of Sodas from Schools Just a Publicity Stunt?". DailyFinance. Archived from the original on March 24, 2010. Retrieved December 14, 2010.
  181. ^ Black, Jane (May 19, 2010). "Food firms take up first lady's challenge". Pittsburgh Post-Gazette / The Washington Post. Retrieved December 14, 2010.
  • Official website Edit this at Wikidata
  • Business data for PepsiCo, Inc:
  • PepsiCo, FritoLay and Pepsi-Cola Annual Reports (1938–2017), Archive of Annual Reports, Internet Archive
Retrieved from "https://en.wikipedia.org/w/index.php?title=PepsiCo&oldid=1257081695"