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PepsiCo, Inc. (NASDAQ: PEP) is a leading American multinational food, snack, and beverage corporation, headquartered in Purchase, New York. Renowned for its comprehensive portfolio, PepsiCo oversees the manufacturing, distribution, and marketing of a wide array of products that include globally recognized brands like Pepsi, Mountain Dew, Gatorade, Lay's, Cheetos, and Doritos. Holding a dominant position in the global savory snacks market, PepsiCo also ranks as the second-largest beverage provider worldwide, following Coca-Cola.
PepsiCo's extensive product range caters to diverse consumer tastes and preferences, from carbonated soft drinks and water to sports and energy drinks. Approximately 55% of PepsiCo's total revenue is generated from convenience foods, with beverages contributing the remaining share. The company owns a significant portion of its manufacturing and distribution capacity both domestically and internationally, with international markets accounting for 40% of total sales and one-third of operating profits.
Recent Achievements and Initiatives:
- Lay's®, Sabritas®, Gamesa®, and Rockstar® Energy Drink announced a multi-year sponsorship of the Leagues Cup, featuring all 47 clubs from Major League Soccer (MLS) and LIGA MX. This partnership enhances soccer fans' experiences with special packaging, in-stadium events, and sweepstakes.
- Gatorade became the official sports drink partner of Wrexham Association Football Club, furthering its commitment to supporting athletes with science-backed products.
- Rockstar Energy Drink concluded its national music contest,
PepsiCo (NASDAQ: PEP) has announced plans to acquire the remaining 50% stake in Sabra Dipping Company and Obela, making it the sole owner of both companies. These joint ventures, previously shared with Strauss Group since 2008 and 2012 respectively, manufacture and distribute refrigerated dips and spreads. Sabra, operating in the US and Canada, has grown to become a leading hummus brand with nearly $400MM in retail sales. Obela operates in Australia, New Zealand, and Mexico. The transactions are expected to close by end of 2024.
The Center for Employment Opportunities (CEO) Denver has been recognized as one of the top 100 nonprofits in North America, receiving a PepsiCo Foundation Community Impact Award for 2024. The organization, which has operated in Denver since 2017, focuses on providing employment services to justice-impacted job seekers. CEO operates in 30 cities, helping individuals with recent criminal histories secure steady employment and achieve economic stability.
The award is part of PepsiCo Foundation's initiative to support local communities and address inequality through economic opportunity, clean water, and food security. The selection process involved PepsiCo employees nominating local organizations, highlighting the Foundation's commitment to supporting community-specific needs through local partnerships.
PepsiCo announced a quarterly dividend of $1.355 per share, representing a 7% increase from the previous year. The dividend will be paid on January 6, 2025, to shareholders of record as of December 6, 2024. This payment aligns with PepsiCo's previously announced increase in its annualized dividend to $5.42 from $5.06 per share, which began in June 2024. The company has maintained consecutive quarterly dividend payments since 1965 and achieved its 52nd consecutive annual dividend increase in 2024.
GENYOUth launched 'Super School Meals', a statewide initiative providing nutrition equipment grants to 59+ Louisiana schools to facilitate Grab and Go school meals. The program, supported by NOLA Public Schools, New Orleans Super Bowl Host Committee, and corporate sponsors including PepsiCo Foundation, aims to increase access to approximately 9 million school meals annually, benefiting over 32,000 students throughout Louisiana. The initiative addresses critical child hunger issues in Louisiana, where 1 in 4 children lives in food insecurity compared to 1 in 5 nationally. Schools will receive equipment packages including mobile meal carts and milk coolers, along with NFL FLAG-In-School kits to promote physical activity.
Lay's® is bringing back its iconic Do Us A Flavor™ contest after a seven-year hiatus. Fans can submit their potato chip flavor ideas from October 16, 2024, to February 21, 2025, at DoUsAFlavor.com for a chance to win $1 million and see their creation on store shelves in 2025. A judging panel will select three finalist flavors to be developed and brought to market in April 2025, with the winner determined by fan votes later that year.
To kick off the campaign, Lay's is re-releasing five fan-favorite flavors from previous contests: Chicken & Waffles, Cheesy Garlic Bread, Southern Biscuits & Gravy, Wavy Fried Green Tomato, and Crispy Taco. Fans can enter for a chance to win an exclusive kit featuring these flavors through a social media sweepstakes.
Gatorade has launched a generative AI-powered design experience on its Gatorade iD free membership platform, in partnership with Adobe Firefly. This new tool allows athletes to personalize their Gatorade Squeeze Bottles with nearly endless design possibilities. Users can create custom designs by typing ideas into a search box and choosing from various colors, vibes, and passions.
The AI-generated bottle design puts creative self-expression directly in athletes' hands, offering millions of different design options. The capability is available exclusively on Gatorade.com through Gatorade iD, where users can earn points and unlock benefits. Every member can create two free designs before using loyalty points, and designs are saved to the user's profile.
Gatorade collaborated with digital product agency Work & Co to ensure a seamless and user-friendly experience. The personalized Gatorade Squeeze Bottles are available for $34.99 via Gatorade iD on www.gatorade.com.
DORITOS® has launched its first restaurant, Doritos After Dark™, at Crypto.com Arena in Los Angeles. This new culinary experience offers globally inspired flavors and elevates dishes with the distinctive crunch of Doritos chips. The menu includes spicy appetizers, bold entrees, and sweet desserts, all infused with Doritos flavors.
Highlights from the menu include the Doritos® Flamin' Hot® Limón Late Night™ Rita, Doritos® Spicy Sweet Chili Ramen-Rito, and Doritos® Nacho Cheese Crunchtastic Vanilla Cone. The restaurant is available to ticketholders during events at Crypto.com Arena.
Additionally, a one-night Doritos Night Market pop-up will be held on November 15 at Peacock Place, offering free Doritos After Dark bites in an immersive atmosphere. This initiative expands on Frito-Lay's partnership with Crypto.com Arena and AEG, further elevating the arena's live events experience.
Tostitos and Julian Edelman have teamed up to introduce Tostitos Salsa Cereal, a creative twist on the classic chips and salsa pairing for gameday snacking. This trend, which originated on social media, involves eating crushed Tostitos chips and salsa with a bowl and spoon. -edition Tostitos Salsa Cereal kits are being offered through a sweepstakes from October 3 to October 17, 2024.
Fans can enter by following @Tostitos on Instagram, liking the official post, and commenting with specific hashtags. The kit includes the first-ever Tostitos 'cereal' snack box featuring Edelman. For those who don't win, Edelman provides easy steps to make the snack at home. Additionally, Tostitos is launching a 'You Can't Do That' campaign featuring Edelman, Tom Brady, and Rob Gronkowski in a series of commercials highlighting that football and Tostitos go hand-in-hand.
PepsiCo (NASDAQ: PEP) has announced a definitive agreement to acquire Siete Foods for $1.2 billion. This acquisition will add an authentic Mexican-American brand to PepsiCo's portfolio, expanding its better-for-you food offerings. Siete Foods, founded in 2014, produces heritage-inspired tortillas, salsas, seasonings, sauces, cookies, and snacks. The transaction is expected to close in the first half of 2025, subject to customary conditions and regulatory approval.
PepsiCo's Chairman and CEO, Ramon Laguarta, expressed excitement about carrying on the Garza family's legacy and expanding the multicultural portfolio. Miguel Garza, CEO and Co-Founder of Siete Foods, hopes this acquisition will inspire other Latino businesses. The deal aims to bring Siete's inclusive, better-for-you products to a wider consumer base while honoring Mexican-American heritage and culture.
The PepsiCo Foundation has invested over $20 million in scholarship programs across the U.S. in the last 5 years, awarding nearly 6,000 scholarships. In 2024 alone, the Foundation will have awarded more than 1,800 scholarships valued at nearly $8.4 million. The Foundation supports three signature programs:
- PepsiCo Foundation Family Scholars: Supporting children of PepsiCo employees
- PepsiCo Foundation S.M.I.L.E. Scholarship: Helping community college graduates attain 4-year degrees
- PepsiCo Foundation Uplift Scholarship: Promoting educational equity for underserved communities
These programs aim to create future employees and entrepreneurs by providing financial support, networking opportunities, and career guidance. The Foundation's efforts reflect its commitment to driving positive change and fostering economic growth and social mobility.
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