PepsiCo has moved up from #2 to take the top spot. The company reported a 20.5% increase in net revenue in its Q2 results, raising its full-year guidance for organic revenue growth. It posted net revenues of $19.22 billion, compared with the $15.95 billion recorded for the same period last year. The easing of Covid-19-related restrictions and closures helped boost net revenue for PepsiCo’s foodservice business and drive up beverage sales.

The company announced that it was moving away from the fruit juice sector, offloading certain juice assets to private equity firm PAI Partners for $3.3 billion. “This joint venture with PAI enables us to realize significant upfront value, whilst providing the focus and resources necessary to drive additional long-term growth for these beloved brands,” said PepsiCo Chairman and CEO Ramon Laguarta.

Earlier this year, PepsiCo added Soulboost sparkling water to its functional beverage portfolio; and introduced Lifewtr Immune Support across the US, marking the first product extension for the bottled water brand since its inception in 2017. Meanwhile, the company launched a new brand—Neon Zebra canned cocktail mixers—as well as a cocktail mixer line called Unmuddled. The company revealed its commitments to achieve net-zero greenhouse gas emissions by 2040; reduce sugar levels in sodas by 25%; and launch healthier snacks in the EU by 2025.

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