PepsiCo

Corporate brand

A global food and beverage corporation whose portfolio spans soft drinks, snacks, sports drinks, cereals, juices and other packaged foods.

Last updated November 4, 2026

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First read: Nov 4, 2026
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Overview

PepsiCo, Inc. is an American multinational food and beverage corporation headquartered in Purchase, a hamlet of Harrison, New York. It manufactures, distributes and markets products across the food and beverage industry, combining branded drinks with snacks, convenient foods, cereals, juices, dairy products and related offerings. Its best-known brands include Pepsi, Lay's, Doritos, Cheetos, Gatorade, Quaker and Mountain Dew. The modern company was created in 1965 through the merger of the Pepsi-Cola Company and Frito-Lay, Inc. The Pepsi drink itself originated in North Carolina, where pharmacist Caleb Bradham developed and marketed Pepsi-Cola at the end of the nineteenth century. After the original Pepsi-Cola business failed during the volatile sugar market of the early 1920s, the trademark and formula changed hands. Charles Guth later rebuilt the brand through Loft, Inc., and Pepsi was eventually absorbed into Loft, which adopted the Pepsi-Cola name in 1941. Frito-Lay had been formed through the combination of the Frito Company and the H.W. Lay Company, creating the snack-food platform that later became central to PepsiCo. Following the 1965 merger, PepsiCo expanded beyond cola through acquisitions, international development and partnerships. It added Mountain Dew in the early 1960s, Tropicana in 1998 and the Quaker Oats Company in 2001. The Quaker transaction brought Gatorade into the portfolio and strengthened PepsiCo's position in breakfast foods, cereals and snacks. The company also acquired and divested restaurant, logistics, sporting-goods and other businesses over several decades. In 1997, its restaurant operations were separated into Tricon Global Restaurants, later renamed Yum! Brands, allowing PepsiCo to concentrate more clearly on packaged food and beverages. PepsiCo's operating structure includes beverage, snack and convenient-food businesses in North America and international regions. Major activities include PepsiCo Beverages North America, Frito-Lay North America, Quaker Foods North America, Latin America, Europe, Africa, the Middle East and South Asia, and Asia-Pacific, Australia, New Zealand and China. Distribution is conducted through PepsiCo and, in some markets, licensed bottlers or other commercial partners. The company has also used partnerships for products such as Starbucks ready-to-drink coffees and selected Lipton beverages. The corporation is a long-standing rival of The Coca-Cola Company in the cola category, a competition commonly described as the cola wars. PepsiCo's broader portfolio, however, makes it substantially more than a soft-drink company. Its strategy has increasingly included sports and energy drinks, bottled water, functional beverages, healthier snacks, plant-based and reduced-impact products, as well as digital and sustainability initiatives. Acquisitions and investments such as SodaStream, Rockstar Energy and Celsius have supported those efforts, while the sale of most North American juice assets to PAI Partners reduced exposure to a slower-growing juice portfolio. PepsiCo has faced criticism concerning nutrition, plastic packaging, greenhouse-gas emissions, water use, agricultural practices, deforestation, pesticide residues and labor conditions. Its scale has made packaging pollution and agricultural supply chains especially prominent areas of scrutiny. The company has responded through programs grouped under the PepsiCo Positive framework, including emissions reduction, recyclable or reusable packaging goals, fleet electrification, water stewardship and changes to agricultural sourcing. Its current identity is therefore that of a diversified global consumer-staples company: the Pepsi name remains its emblematic beverage brand, while snacks and convenient foods represent a major part of its commercial reach.

History

PepsiCo's history combines the development of a nineteenth-century soft drink with the consolidation of major American snack businesses. Caleb Bradham created Pepsi-Cola in 1898 and established the Pepsi-Cola Company in 1902. Sugar shortages and market volatility weakened the company after the First World War, leading to bankruptcy in 1923. The trademark, formula and associated business were subsequently acquired by other parties. In 1931, Charles Guth acquired Pepsi-related assets while leading Loft, a candy and retail company. He used Loft's laboratories and retail network to reformulate, promote and distribute Pepsi, positioning it as an alternative to Coca-Cola. A dispute over ownership was resolved in favor of Loft, which formally absorbed Pepsi in 1941 and changed its corporate name to Pepsi-Cola Company. The brand later expanded with Diet Pepsi and Mountain Dew. Frito-Lay developed in parallel. The Frito Company and the H.W. Lay Company combined in 1961, creating a major snack platform built around corn chips and potato chips. Pepsi-Cola and Frito-Lay merged in 1965, forming PepsiCo. The merger established the basic strategic model that still defines the corporation: pairing a global beverage system with a broad snack portfolio. PepsiCo moved its headquarters from Manhattan to Purchase, New York, in 1970 and was reincorporated in North Carolina in 1986. During the late 1970s through the mid-1990s, it acquired businesses outside packaged foods and beverages, including restaurant operations. Those activities were largely divested in 1997 when the restaurant division became Tricon Global Restaurants, later Yum! Brands. The move sharpened PepsiCo's focus on food, snacks and beverages. The company then pursued major portfolio expansion. Tropicana was acquired in 1998, followed by Quaker Oats in 2001. Quaker added oatmeal, cereals and snack products, while Gatorade transformed PepsiCo's position in sports hydration. PepsiCo also expanded internationally through acquisitions including Wimm-Bill-Dann Foods and Pioneer Foods, and integrated major North American bottlers in 2010. During the 2010s and 2020s, PepsiCo emphasized portfolio diversification, direct control of distribution, functional beverages, at-home consumption and sustainability. It acquired SodaStream, BFY Brands and Rockstar Energy, and invested in Celsius. It also reduced its exposure to North American juice by selling a majority stake in Tropicana and related brands. The corporation has continued to manage the tension between its iconic indulgent products and growing consumer, regulatory and investor demand for healthier nutrition, lower environmental impact and more resilient supply chains.

2018
SodaStream acquisition is completed
[5]SodaStream acquisition is completedpepsico.com
PepsiCo adds a major at-home carbonation business to its portfolio.
2010
Bottling businesses are integrated
[1]PepsiCoen.wikipedia.org
PepsiCo completes the acquisition of Pepsi Bottling Group and PepsiAmericas.
2001
Quaker Oats is acquired
[1]PepsiCoen.wikipedia.org
The transaction adds Quaker foods and Gatorade.
1998
Tropicana joins PepsiCo
[1]PepsiCoen.wikipedia.org
PepsiCo acquires Tropicana Products and expands into branded juices.
1997
Restaurant operations are separated
[1]PepsiCoen.wikipedia.org
PepsiCo spins off its restaurant business into Tricon Global Restaurants, later Yum! Brands.
1965
PepsiCo is formed
[1]PepsiCoen.wikipedia.org
The Pepsi-Cola Company merges with Frito-Lay, creating PepsiCo.
1941
Loft adopts the Pepsi-Cola name
[1]PepsiCoen.wikipedia.org
After absorbing Pepsi, Loft changes its corporate name to Pepsi-Cola Company.
1902
Pepsi-Cola Company is founded
[1]PepsiCoen.wikipedia.org
Bradham establishes the Pepsi-Cola Company as the drink gains popularity.
1898
Pepsi-Cola is developed
[1]PepsiCoen.wikipedia.org
Caleb Bradham begins marketing Pepsi-Cola from his pharmacy in New Bern, North Carolina.

Products and positioning

A diversified global food-and-beverage house combining high-volume beverages with leading snack and convenient-food brands, while expanding into sports nutrition, functional drinks and more health-oriented products.

Carbonated soft drink · 1898
Pepsi
Pepsi is PepsiCo's namesake cola and its most recognizable beverage brand. The portfolio includes the flagship cola and variants such as diet and zero-sugar offerings, with formulas, packaging and product names adapted across markets.
Potato chips · 1932
Lay's
Lay's is a global potato-chip brand operated through PepsiCo's Frito-Lay business. It offers salted and flavored chips, with recipes and locally developed varieties differing by country.
Tortilla chips · 1966
Doritos
Doritos is a flavored tortilla-chip brand known for bold seasoning and triangular chips. It is sold in numerous markets through Frito-Lay and has become one of PepsiCo's core snack brands.
Cheese-flavored snacks · 1948
Cheetos
Cheetos comprises cheese-flavored corn and extruded snacks distributed internationally. Product shapes, flavors and formulations vary by market.
Sports drink · 1965
Gatorade
Gatorade is a sports-hydration brand acquired through Quaker Oats. Its range includes electrolyte beverages, powders and related hydration products marketed to athletes and active consumers.
Oats and cereals · 1877
Quaker
Quaker is PepsiCo's principal oats and cereal platform in North America, including oatmeal, hot cereals, granola and other convenient breakfast products.
Carbonated soft drink · 1940
Mountain Dew
Mountain Dew is a citrus-flavored soft-drink brand that became part of PepsiCo's beverage portfolio in the early 1960s. It is marketed through multiple flavor and energy-oriented variants.

Controversies

2026
Cypriot businessmen sue PepsiCo over Famagusta factory use
Greek Cypriot companies CyproFruta and Cyprus Farming Ltd filed a lawsuit seeking compensation from 12 companies and individuals, including PepsiCo, over the alleged use of their factory and land in Famagusta to manufacture Pepsi-branded products. The claim concerns the alleged use of the factory and land for that production. The filing names PepsiCo among the defendants and seeks compensation from all of them.
Source
2026
Food and beverage companies filed 239 legal challenges against public health labeling policies (2010-2025)
An investigation by Lighthouse Reports found that food and beverage companies, including Coca-Cola, PepsiCo, and Mars, filed 239 legal challenges from 2010 through 2025 to block or delay public health policies, particularly labeling requirements for ultraprocessed foods and sugary drinks. Cases were cataloged in the United States, Mexico, Colombia, Brazil, Britain, and India, with a third of the lawsuits coming from just nine parent companies.
Source
2024
Plastic pollution criticism
PepsiCo continued to face environmental criticism concerning single-use packaging and was identified in referenced reporting as one of the largest contributors to branded plastic pollution.
Source
2021
Rise Brewing sues PepsiCo over RISE trademark
Rise Brewing filed a lawsuit against PepsiCo alleging willful trademark infringement related to PepsiCo's RISE energy drink. The complaint alleges that the use of the RISE mark caused and would continue to cause consumer confusion; these are allegations, not a court determination.
Source
2020
Communication Interface Technologies files patent suits against multiple companies
Communication Interface Technologies filed multiple patent infringement suits in the Texas Eastern District Court against several companies, including Cinemark Holdings and Yum! Brands. The suits alleged unauthorized use of patented push-notification technology; the plaintiff sought infringement adjudication, damages, costs, fees, and other relief.
Source
2020
VPX Sports sues PepsiCo over distribution agreement
Vital Pharmaceuticals, doing business as VPX Sports, filed suit against PepsiCo seeking injunctive relief in aid of arbitration. The complaint alleges that PepsiCo failed to meet obligations under a distribution agreement and interfered with VPX's transition of distribution rights. These are allegations in the filing, not findings.
Source
2020
Admiral Beverage sues PepsiCo over Rockstar distribution exclusivity
Admiral Beverage sued PepsiCo in federal court, alleging that PepsiCo breached a contract by terminating Admiral’s exclusive Rockstar Energy distribution agreement. Admiral sought a preliminary injunction to maintain its exclusivity rights; the allegations are reported as claims in the lawsuit.
Source
2019
FC5 potato farmer lawsuits in India
PepsiCo India sued several farmers over cultivation of the FC5 potato variety associated with Lay's production. The company withdrew the cases after public criticism and discussions with Indian authorities.
Source

2021
Set a net-zero emissions ambitionStrategy
Background
Climate impacts across agriculture, manufacturing, distribution and packaging increased pressure on large consumer-goods companies.
Action taken
PepsiCo announced an ambition to reach net-zero greenhouse-gas emissions across its value chain by 2040.
Aftermath
The commitment became part of the company's broader PepsiCo Positive sustainability framework.
Source
2018
Acquire SodaStreamM&A
Background
The deal supported diversification into at-home beverage preparation and alternatives to conventional packaged drinks.
Action taken
PepsiCo agreed to acquire SodaStream and completed the transaction in December 2018.
Aftermath
SodaStream became part of PepsiCo's portfolio of beverage platforms and sustainability-oriented offerings.
Source
2001
Acquire Quaker OatsM&A
Background
PepsiCo sought to broaden its food portfolio and strengthen its position in sports beverages.
Action taken
PepsiCo merged with Quaker Oats, obtaining Quaker foods and Gatorade.
Aftermath
Gatorade became a major PepsiCo growth platform and the company gained additional breakfast and snack brands.
Source
1997
Exit most restaurant operationsStrategy
Background
PepsiCo had expanded into restaurants and other non-core activities but analysts and management increasingly favored concentrating on packaged foods and beverages.
Action taken
The restaurant businesses were separated into Tricon Global Restaurants, which later became Yum! Brands.
Aftermath
The separation clarified PepsiCo's identity as a food, snack and beverage company.
Source

Recent events

Unconfirmed
Reported2026.10.23
Cypriot businessmen sue PepsiCo over Famagusta factory use[7]Cypriot businessmen sue PepsiCo over Famagusta factory usecyprus-mail.com
Greek Cypriot companies CyproFruta and Cyprus Farming Ltd filed a lawsuit seeking compensation from 12 companies and individuals, including PepsiCo, over the alleged use of their factory and land in Famagusta to manufacture Pepsi-branded products.
2026.10.23
Reported2026.10.23
PepsiCo and Taco Bell renew beverage partnership[12]百事公司与塔可钟续签饮料合作aol.com
PepsiCo and Taco Bell renewed their partnership, under which PepsiCo beverages will continue to be served at Taco Bell locations in the United States, Canada, the United Kingdom, Ireland, and Thailand. The pact is in force through 2036; financial terms were not disclosed.
2026.10.15
Reported2026.10.16
KFC announces Coca-Cola as U.S. beverage supplier[13]KFC宣布可口可乐成为其美国饮料供应商cnbc.com
KFC announced that Coca-Cola will replace PepsiCo as the beverage supplier for KFC restaurants in the United States. KFC expects to serve Coca-Cola beverages at all its U.S. restaurants by the end of the first quarter of 2027.
2026.10.08
Reported2026.10.08
PepsiCo cuts full-year profit guidance alongside better-than-expected Q3 results[14]百事公司第三季度业绩超预期但下调全年利润指引cnbc.com
PepsiCo on Thursday reported better-than-expected third-quarter earnings and revenue but cut its full-year profit forecast to growth of 2.5% to 3.5%, down from 5% to 7%, as higher costs and investments in advertising, product innovation and lower prices to revive demand weighed on margins. The company maintained its organic revenue growth outlook at 3% and raised its reported revenue growth forecast to 6%, versus prior guidance of 4% to 6%.
Weekdays and relative dates follow the original report; their exact calendar dates have not been verified.
Unconfirmed
Reported2026.10.08
PepsiCo Q3 results beat expectations while company trims profit forecast[15]百事第三季度业绩超预期，但公司下调利润预测news.google.com
PepsiCo reported third-quarter results that beat expectations, though the company trimmed its profit forecast; PepsiCo shares climbed following the report.
2026.10.08
Reported2026.10.08
PepsiCo reports Q3 2026 earnings and revenue above estimates[16]百事公布2026年第三季度业绩，盈利与营收均超预期cnbc.com
PepsiCo reported third-quarter 2026 results on Thursday, with adjusted earnings per share of $2.34 (versus $2.29 expected) and revenue of $25.27 billion (versus $24.96 billion expected). Third-quarter net income attributable to the company was $3.05 billion, or $2.23 per share, and net sales rose 5.6% to $25.27 billion, fueled by international growth while the North American business continued to lag.
Weekdays and relative dates follow the original report; their exact calendar dates have not been verified.
2026.10.08
Reported2026.10.08
PepsiCo lowers full-year 2026 earnings forecast as North American turnaround lags[16]百事公布2026年第三季度业绩，盈利与营收均超预期cnbc.com
With one quarter left in 2026, PepsiCo lowered its forecast for full-year earnings, now expecting core earnings per share to increase 2.5% to 3.5%, down from its previous projection of the low end of a 5% to 7% range, while projecting net revenue growth of about 6%, on the high end of its prior 4% to 6% outlook. CFO Steve Schmitt said the turnaround of the company's domestic North American business is moving more slowly than expected.
2026.09.24
Reported2026.09.25
Tesla holds Semi event announcing new customers as first deliveries begin[17]特斯拉举办Semi活动宣布新客户，首批交付本周启动theverge.com
On Thursday evening Tesla held an event at its new Semi factory next to Gigafactory Nevada (stated capacity 50,000 trucks a year) to announce a raft of new and existing customers for the Tesla Semi, including PepsiCo, US Foods, DHL, WattEV, ABF, Einride, IMC, and OK Produce. First deliveries of the truck started this week; Tesla did not reveal order numbers or update the Semi's price.
Weekdays and relative dates follow the original report; their exact calendar dates have not been verified.
Unconfirmed
Reported2026.08.29
Food and beverage companies filed 239 legal challenges against public health labeling policies (2010-2025)[9]Food and beverage companies filed 239 legal challenges against public health labeling policies (2010-2025)yahoo.com
An investigation by Lighthouse Reports found that food and beverage giants including Coca-Cola, PepsiCo, and Mars filed 239 legal challenges from 2010 through 2025 to block or delay public health policies, particularly labeling requirements for ultraprocessed foods and sugary drinks. Cases were cataloged in the United States, Mexico, Colombia, Brazil, Britain, and India, with a third of the lawsuits coming from just nine parent companies.
2022.03.17
Reported2022.03.17
PepsiCo launches Kgodiso Development Fund[18]百事公司推出Kgodiso发展基金freshplaza.com
PepsiCo launched the Kgodiso Development Fund, a five-year R600 million investment intended to support South Africa’s food system.

Sources84 sources

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