Five cents … multiplied by 54 billion.
Extremely affluent businessman Nelson Peltz has invested billions of dollars in two major food companies: PepsiCo and Mondelez (Ritz, Oreo, Toblerone, Cadbury, and others). His $2.7 billion stake is raising eyebrows because it could mean that Pepsi will spin off some of its brands (like Frito Lay) and merge them with Mondelez. This news hits at the same time as the report of Pepsi’s strong first-quarter earnings, bolstered by sales of Lay’s chips and snack brands. It’s soda sales that are dwindling. Pepsi CEO Indra Nooyi said, “The cola category continues to be a challenge.” Time to clone Beyoncé a few additional times, or use more erotic language to describe new products. [Dealbook/NY Times, NYP, Vulture, Earlier]
