Tag Archives: PepsiCo

PepsiCo acquires South African juice maker Pioneer Foods in an expansion drive into Africa

PepsiCo, Inc, U.S.-based food and beverage giant has agreed to acquire Pioneer Foods of South Africa in a deal valued at US$1.7bn, both companies said on Friday in South Africa.

The acquisition gives PepsiCo a foothold for expansion into the rest of Africa. PepsiCo will gain brands and manufacturing facilities in Nigeria, Kenya, and South Africa.

PepsiCo sustains growth in Qtr2 with boost from snack and beverage sales

PepsiCo on Tuesday reported a 2.2% net revenue growth for the second quarter of 2019 ending on June 15. The beverage giant which recorded $16.4bn in sales in the quarter said it had its Frito-Lay North America snack business and PepsiCo North America Beverage unit to thank for the growth with 4.5% and 2.5% sales lift respectively.

PepsiCo hails a strong start to the year, thanks to boost from its snack business

PepsiCo Inc, on Wednesday reported sales growth of 2.5% for the first three months of the year to $12.9bn, thanks in part to strong revenue growth in its Frito-Lay North America snack business, which posted 5.47% sales rise. The company’s North American Beverages unit also helped fuel the quarterly growth with a 2.15% sales lift.

Commenting on the results, PepsiCo Chairman & CEO, Ramon Laguarta, said: “We are pleased with our results for the first quarter.

Former PepsiCo CEO Indra Nooyi appointed to Amazon board

Indra Nooyi, the erstwhile CEO of PepsiCo has been appointed to the Board of Directors of US online retailer Amazon.com.

Nooyi who spent 24 years with PepsiCo, including 12 as the CEO stepped down in October and gave up her seat on the beverage giant’s board this February.

PepsiCo finishes year higher amid rising costs

PepsiCo, the company behind such brands as 7Up, Pepsi Cola, Mountain Dew, Aquafina bottled water, among others reported a 2% revenue growth for the full year 2018 to $64.6bn. Fourth quarter sales was flat at $19.5bn.

The company said that fourth quarter net income rose to $6.85bn compared to a loss of -$710m in the same period in 2017, while full year net income grew to $12.55bn, from $4.9bn in the previous year,  due to a one-time $2.5bn tax charge related to the new U.S. tax law. 

PepsiCo sees silver lining in Q3 despite being weighed by a strong dollar

PepsiCo said on Tuesday that third quarter profit grew 16% to $2.49bn showing signs of renewed consumer demand for its brands including its namesake cola and other beverages.

While the firm’s Frito-Lay North America snacks business did a lot of the heavy lifting with 3% sales growth in the third quarter, the company’s flagship North America Beverage unit came back to life with a 2% growth, helped by a strong marketing push, albeit at a cost as Operating Profit for the business unit declined by 11% as a result of the increased marketing spend as well as rising transportation and commodity costs.

PepsiCo joins group to develop bio-degradable PET bottles

PepsiCo has joined the The NaturALL Bottle Alliance to develop beverage containers that are bio-degradable.

The alliance is a research consortium formed by Danone, Nestlé Waters and bio-based materials development company, Origin Materials to accelerate the development of innovative packaging solutions made with 100 per cent sustainable and renewable resources.

PepsiCo buys countertop seltzer-machine maker SodaStream for $3.2bn

New York-based PepsiCo Inc announced on Monday it has acquired Israeli-based SodaStream, a maker of counter top machines for making carbonated drinks from water filled in a reusable bottle and flavours if desired.

The deal which cost PepsiCo $3.2bn will allow it broaden its offerings beyond sugary drinks and promote itself as a maker of “in-home beverage creation”, according to Mr. Hugh Johnston, PepsiCo’s Chief Financial Officer.

PepsiCo’s Nooyi to leave post

Indra Nooyi, the long-serving Chief executive Officer of Purchase, New York based PepsiCo is to step down from her post after 12 years.

The 62-year old Nooyi, who has been with the company for 24 years, will cede the CEO role to 54-year old Ramon Laguarta, a Spaniard and 22-year veteran of the soft drinks giant.

PepsiCo’s Q2 profit slumps on sluggish sales of trademark soda

PepsiCo on Tuesday reported a 2.4% revenue growth for the second quarter of 2018 to $16.09bn.

However, the results did not mirror the performance of its North American Beverages unit, its largest segment, which declined by 1% to $5.1bn.

The firm’s North American beverages unit has been posting declining sales for four consecutive quarters (since third quarter of 2017), a worrisome trend for the soda giant to consider operating it as a separate unit or spinning it off into a stand-alone public entity or do what its main rival Coca-Cola has done by refranchising them to multiple franchisees.