PepsiCo
Company type | Public |
---|---|
| |
Industry | |
Founded |
|
Founder | Caleb Bradham (for the Pepsi-Cola Company branch) |
Headquarters | Donald M. Kendall Sculpture Gardens, , |
Area served | Worldwide |
Key people | Ramon Laguarta (Chairman & CEO) Jamie Caulfield (EVP and CFO) |
Products | See list of PepsiCo products |
Revenue | US$91.47 billion (2023) |
US$11.98 billion (2023) | |
US$9.16 billion (2023) | |
Total assets | US$100.5 billion (2023) |
Total equity | US$18.64 billion (2023) |
Number of employees | 318,000 (2023) |
Subsidiaries | List of subsidiaries |
Website | pepsico |
Footnotes / references [1] |
PepsiCo, Inc. is an American
As of January 2021, the company possesses 23 brands that have over US$1 billion in sales annually.
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
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 headquarters 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
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
In August 2009, PepsiCo made a US$7 billion offer to acquire the two largest bottlers of its products in North America:
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 will also quarter-own allMotti in late November 2018 and it will be 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 will 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,
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
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
Soviet Union
In 1959, the
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] This is false because the only warships acquired by PepsiCo were "small, old, obsolete, unseaworthy vessels".[54][61]
Finances
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 |
Products and brands
PepsiCo's product mix as of 2015 (based on worldwide net revenue) consists of 53 percent foods, and 47 percent beverages.
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).
PepsiCo Beverages North America
This division contributed 35 percent of PepsiCo's net revenue as of 2015,
PepsiCo also has formed partnerships with several beverage brands it does not own, in order to distribute or market them with its own brands.
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
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.
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.
PepsiCo's European presence expanded in Russia in 2009 as the company announced a US$1B investment,
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
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)
PepsiCo Australia & New Zealand is located on the Pacific Highway, Chatswood, New South Wales.[100][101][102]
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.[103] 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
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.[107] 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:[108]
- The Vanguard Group (9.35%)
- BlackRock (7.96%)
- State Street Corporation (4.20%)
- Geode Capital Management (2.01%)
- Morgan Stanley (1.78%)
- Bank of America (1.66%)
- JPMorgan Chase (1.52%)
- Charles Schwab (1.35%)
- Northern Trust (1.16%)
- Norges Bank (1.13%)
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."[109] In 2010 the magazine ranked the building as one of the ten most beautiful buildings in Westchester County.[109]
During the 1960s, PepsiCo had its headquarters in 500 Park Avenue in Midtown Manhattan, New York City.[110] In 1956 PepsiCo paid US$2 million for the previous building at the site.[111] PepsiCo built 500 Park Avenue in 1960.[112] In 1966, Mayor of New York City John Lindsay started a private campaign to convince PepsiCo to remain in New York City.[113] Six months later, the company announced that it was moving to 112 acres (45 ha) on the Blind Brook Polo Club in Purchase.[114]
Charitable activities
PepsiCo has maintained a philanthropic program since 1962 called the PepsiCo Foundation, 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.
Working conditions
In July 2021, Frito-Lay, a subsidiary of PepsiCo became the subject to media attention over poor working conditions at its plant in Topeka.[127][128] 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.[128][129]
Environmental record
Rainforests and palm oil
PepsiCo Palm Oil Commitments[130] 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[131] 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.[132][133][134] 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."[135]
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
As a result, in 2003 PepsiCo launched a country-wide program to achieve a "positive water balance" in India by 2009.[137] 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."[136] According to the company's 2009 corporate citizenship report,[138] as well as media reports at the time,[139] 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.[138]
Water usage concerns have arisen at times in other countries where PepsiCo operates. In the U.S.,
As a result of water reduction practices and efficiency improvements, PepsiCo in 2009 saved more than 12 billion liters of water worldwide,
Pesticide regulation (India)
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
In November 2010, the
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.[156] In 2019, BreakFreeFromPlastic named PepsiCo a top 10 global plastic polluter for the second year in a row.[157] 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.[158]
One strategy enacted to reach this goal has been the placement of interactive recycling kiosks called "Dream Machines" in supermarkets,
On March 15, 2011, PepsiCo unveiled the world's first plant-based
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.[163]
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.[164]
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
In 2009, Tropicana (owned by PepsiCo) was the first brand in the U.S. to determine the
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.[168] Pepsico has succeeded in achieving 23% of their absolute emissions target reduction as of 2022.[168]
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",
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
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.[174] 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.[174]
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.[175]
Changes to the composition of its products with nutrition in mind have involved reducing fat content, moving away from
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.[178] 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.[179] 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.[180][181]
In 2010,
See also
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External links
- Official website
- Business data for PepsiCo, Inc:
- PepsiCo, FritoLay and Pepsi-Cola Annual Reports (1938–2017), Archive of Annual Reports, Internet Archive