Top 100 Food and Beverage Company Highlights: #1 PepsiCo
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.