Magazine

Table: Rethinking Pepsi


In each of the past five years, PepsiCo has put together big deals to get out of service- and capital-intensive businesses and expand its core brands

OUT:

RESTAURANTS

1997: Pepsi spins off its Taco Bell, Pizza Hut, and Kentucky Fried Chicken chains to create Tricon Global Restaurants, with a market capitalization of $4.7 billion

BOTTLING

1999: Its bottling business is sold in a $2.3 billion public offering, with Pepsi keeping 40% of the shares

IN:

ORANGE JUICE

1998: Buys Tropicana, the O.J. giant, for $3.3 billion

NEW-AGE DRINKS

2000: Bests Coke with a $337 million offer for SoBe, maker of Adrenaline Rush and other New Age drinks

SPORTS DRINKS

2001: Closes a $14 billion acquisition of Quaker Oats, owner of Gatorade as well as several cereal brands In each of the past five years, PepsiCo has put together big deals to get out of service- and capital-intensive businesses and expand its core brands

OUT:

RESTAURANTS

1997: Pepsi spins off its Taco Bell, Pizza Hut, and Kentucky Fried Chicken chains to create Tricon Global Restaurants, with a market capitalization of $4.7 billion

BOTTLING

1999: Its bottling business is sold in a $2.3 billion public offering, with Pepsi keeping 40% of the shares

IN:

ORANGE JUICE

1998: Buys Tropicana, the O.J. giant, for $3.3 billion

NEW-AGE DRINKS

2000: Bests Coke with a $337 million offer for SoBe, maker of Adrenaline Rush and other New Age drinks

SPORTS DRINKS

2001: Closes a $14 billion acquisition of Quaker Oats, owner of Gatorade as well as several cereal brands In each of the past five years, PepsiCo has put together big deals to get out of service- and capital-intensive businesses and expand its core brands

OUT:

RESTAURANTS

1997: Pepsi spins off its Taco Bell, Pizza Hut, and Kentucky Fried Chicken chains to create Tricon Global Restaurants, with a market capitalization of $4.7 billion

BOTTLING

1999: Its bottling business is sold in a $2.3 billion public offering, with Pepsi keeping 40% of the shares

IN:

ORANGE JUICE

1998: Buys Tropicana, the O.J. giant, for $3.3 billion

NEW-AGE DRINKS

2000: Bests Coke with a $337 million offer for SoBe, maker of Adrenaline Rush and other New Age drinks

SPORTS DRINKS

2001: Closes a $14 billion acquisition of Quaker Oats, owner of Gatorade as well as several cereal brands


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