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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,
Cheetos launched its Super Bowl LV campaign, featuring a new commercial titled "It Wasn't Me," starring Ashton Kutcher and Mila Kunis. The ad remixes Shaggy's iconic song while promoting the Cheetos Crunch Pop Mix. A consumer survey showed that 48% of Americans sneak snacks, with 25% doing so regularly. Cheetos is also integrating a Snapchat activation that allows viewers to claim free snacks during the commercial. This marks their broadest Super Bowl presence, alongside campaigns for Doritos and other brands.
PepsiCo has appointed David Flavell as EVP, General Counsel and Corporate Secretary, effective March 1. Flavell succeeds Dave Yawman, who leaves after 22 years. Flavell, currently SVP and Chief Compliance & Ethics Officer, has been with PepsiCo since 2011, previously holding roles such as General Counsel for Frito-Lay North America and the AMEA and Latin America businesses. CEO Ramon Laguarta expressed confidence in Flavell's leadership. PepsiCo reported over $67 billion in net revenue in 2019, with 23 brands generating more than $1 billion annually.
According to Frito-Lay's U.S. Snack Index, over 40% of Americans are snacking more than last year, with an expected 21% increase in snack consumption during Super Bowl LV. As half of consumers look forward to special snacks for the event, Frito-Lay plans to produce over 70 million pounds of snacks in the lead-up. The survey highlights changes in Super Bowl gatherings, with nearly 45% of Americans modifying plans, and most parties limited to 10 attendees or fewer. Notably, 52% prefer classic flavors, while salsa and cheese dips remain popular choices.
PepsiCo and Beyond Meat have formed a joint venture named The PLANeT Partnership, LLC to develop innovative snack and beverage products using plant-based protein. This collaboration combines Beyond Meat's advanced technology with PepsiCo's marketing and distribution strengths. Although financial terms were not disclosed, both companies aim to meet the growing consumer demand for nutritious, sustainable products. PepsiCo’s existing efforts in sustainability and product innovation are expected to enhance this partnership, focusing on positive consumer choices and environmental impact.
On January 14, 2021, Cheetos announced its return to the Super Bowl with a new campaign featuring Ashton Kutcher and the launch of Cheetos Crunch Pop Mix. This snack combines traditional Cheetos Crunchy and Cheetos Popcorn, capitalizing on the success of last year's Super Bowl introduction of Cheetos Popcorn. Cheetos Crunch Pop Mix is priced at $3.99 for a 7 oz bag and $1.89 for a 2.25 oz bag. A consumer survey revealed that 48% of Americans admit to sneaking snacks, supporting Cheetos' playful marketing approach.
On January 11, 2021, Cheetos launched its new product, Cheetos Crunch Pop Mix, combining traditional Cheetos Crunchy and Cheetos Popcorn. Available in 7 oz and 2.25 oz bags priced at $3.99 and $1.89 respectively, this snack aims to cater to consumer trends for unique snack combinations. A survey indicated that 48% of Americans admit to sneaking snacks. The product reflects a larger trend in innovative food pairings, following the successful introduction of Cheetos Popcorn in 2020. Cheetos Crunch Pop Mix hopes to deliver moments of joy during challenging times.
PepsiCo (NASDAQ:PEP) has announced the selection of 10 finalists for its 2021 Greenhouse Accelerator program, aimed at supporting innovators in transforming consumer food and beverage experiences. Each finalist receives $20,000 in grant funding and will participate in a six-month mentorship program. The initiative emphasizes emerging science and technology to meet evolving consumer demands for health and wellness. PepsiCo's R&D team is focused on personalized nutrition and functional foods, responding to heightened consumer interest in health amid the COVID-19 pandemic.
Doritos has announced the return of Doritos 3D Crunch, featuring bold flavors like Spicy Ranch and Chili Cheese Nacho. Originally launched in 1998 and phased out in the early 2000s, the revamped snack aims to appeal to both Millennials and Gen Z. The new product will be available nationwide starting December 28, with a suggested price of $4.29 for 6 oz. bags and $1.89 for 2 oz. bags. The launch is accompanied by a social media challenge led by actress Ali Landry, who originally promoted the product, to engage fans and celebrate its comeback.
Doritos has announced the return of the Doritos Bowl featuring Call of Duty, kicking off on December 3 and culminating in a finals event on December 16. This year’s tournament introduces a first-of-its-kind Twitch Rivals Warzone event format with private lobbies and a $250,000 prize pool. The finals will see top players competing live, with commentary from popular streamers. This follows the successful inaugural event in 2018, which attracted 60 million viewers. Doritos, part of PepsiCo's $17 billion Frito-Lay division, aims to enhance viewer engagement in competitive gaming.