Pepsico Inc (NASDAQ: PEP)

PepsiCo is a leading global beverage and convenient food company that makes, markets, distributes and sells a wide variety of products including snacks, beverages and nutrition-oriented foods.

The company generates revenue primarily through the sale of its beverage and convenient food products to retailers, distributors, foodservice operators and independent bottlers, and also earns income from concentrate sales, licensing arrangements and joint venture partnerships.

The company operates through the following segments: PepsiCo Foods North America (PFNA), PepsiCo Beverages North America (PBNA), International Beverages Franchise (IB Franchise), Europe Middle East and Africa (EMEA), Latin America Foods (LatAm Foods), and Asia Pacific Foods.

• PepsiCo Foods North America (PFNA): This segment makes, markets, distributes and sells convenient foods such as cereals, chips, dips, granola bars, oatmeal, pasta, rice and mixes under brands including Cheetos, Doritos, Fritos, Lay’s, Pearl Milling Company, Quaker, Ruffles and Tostitos.

• PepsiCo Beverages North America (PBNA): This segment makes, markets and sells beverage concentrates, fountain syrups and finished goods under brands including Aquafina, Bubly, Diet Mountain Dew, Diet Pepsi, Gatorade, Gatorade Zero, Mountain Dew, Mountain Dew Baja Blast, Pepsi, Pepsi Wild Cherry, Pepsi Zero Sugar and Propel, and also distributes ready to drink tea and coffee through joint ventures with Unilever and Starbucks, and distributes licensed brands such as Keurig Dr Pepper’s Crush, Dr Pepper and Schweppes, and certain juice brands from Dole and Ocean Spray.

• International Beverages Franchise (IB Franchise): This segment makes, markets and sells beverage concentrates to authorized and independent bottlers under brands including 7UP, Aquafina, Gatorade, Mirinda, Mountain Dew, Pepsi, Pepsi Black, Pepsi Zero Sugar and Sting Energy, and also manufactures and distributes SodaStream sparkling water makers and related products, and produces ready to drink tea through a joint venture with Unilever.

• Europe Middle East and Africa (EMEA): This segment makes, markets, distributes and sells convenient food brands such as Cheetos, Chipsy, Doritos, Lay’s, Quaker, Sasko, Spekko, Walkers and White Star, and beverage brands including 7UP, Adrenaline Rush, Aquafina, Lubimy, Mirinda, Pepsi and Pepsi Zero Sugar, and also produces dairy products such as Agusha, Chudo and Domik v Derevne, and produces ready to drink tea through a joint venture with Unilever.

• Latin America Foods (LatAm Foods): This segment makes, markets, distributes and sells convenient food brands including Cheetos, Doritos, Emperador, Lay’s, Marias Gamesa, Quaker, Ruffles, Sabritas, Saladitas Gamesa and Tostitos.

• Asia Pacific Foods: This segment makes, markets, distributes and sells convenient food brands such as BaiCaoWei, Cheetos, Doritos, Kurkure, Lay’s, Quaker and Smith’s.

PepsiCo holds a leading position in the global beverage and convenient food industries, competing primarily with The Coca-Cola Company in beverages and with firms such as Mondelēz International, Kraft Heinz and General Mills in snacks, and the company’s competitive advantages stem from its strong brand portfolio, extensive distribution network, continuous innovation and scale of operations.

PepsiCo sells its products to wholesale distributors, retailers, foodservice operators, convenience stores, grocery stores, e-commerce platforms and authorized independent bottlers, and in 2025 sales to Walmart Inc. and its affiliates, including Sam’s Club, accounted for approximately 14% of the company’s consolidated net revenue.