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.