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North America: PepsiCo dodges questions on merger, drink divesture

By  |  July 24, 2013

PepsiCo CEO Indra Nooyi avoided talks of a potential merger during its second-quarter earnings call, held Wednesday, following calls from activist investor Nelson Peltz for the company to divest its drink operations within North America and acquire Mondelez International. Peltz said last week PepsiCo should drop its struggling beverage businesses in North America, which includes the Pepsi, Sierra Mist and Gatorade products; the investor owns a $1.3 billion share of PepsiCo and $1 billion in Mondelez, say reports. Nooyi declined to address the issue directly on Wednesday, however, saying the company’s broad portfolio offers “commercial opportunities and…new growth avenues to capture expanding consumer demand.”

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