Holding a firm second position, PepsiCo reported a 3.1% decline in net revenue in its second quarter results, yet admitted it has continued to see “resiliency” in its global snacks and food business.
This year, PepsiCo acquired energy drink manufacturer Rockstar Energy Beverages (Rockstar) for $3.85 billion, and Chinese online snack company Be & Cheery from Haoxiangni Health Food Co for $705 million. PepsiCo’s Frito-Lay announced that it would invest $200 million to expand its snack manufacturing operations in Perry, Georgia in 2021.
PepsiCo-owned Naked Juice launched a low-sugar smoothie line in the UK, Naked Lean. Elsewhere in the UK, the company’s Doritos brand entered the tube snacks market with the launch of Doritos Stax. In response to the Black Lives Matter movement, PepsiCo also announced that it would replace and retire its Aunt Jemima range, acknowledging the imagery behind the brand was based on a racial stereotype.
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Ramon L Laguarta, Chairman and CEO
Hugh Johnston, Vice Chairman and CFO
Jim Andrew, Executive VP SodaStream, Beyond the Bottle, and New Ventures
Jon Banner, President, PepsiCo Foundation
Tina Bigalke, Global Chief Diversity and Engagement Officer