History of PepsiCo

PepsiCo was formed in 1965 through the merger of Pepsi-Cola and Frito-Lay. Pepsi-Cola itself originated in the late 19th century when pharmacist Caleb Bradham developed a cola drink in North Carolina. The 1965 merger combined the beverage business with Frito-Lay's snack portfolio, creating a diversified food and drink company. Subsequent acquisitions added brands including Tropicana, Gatorade, and Quaker Oats to the portfolio.

PepsiCo operates in more than 200 countries and territories. Its revenue is split between beverage and convenient food segments, with North America accounting for the majority of sales. The company has made periodic structural changes to separate or spin off portions of its business, including divesting its restaurant chains in 1997 and later separating Tropicana.

In 2018, PepsiCo acquired SodaStream, a home carbonation device company, for approximately $3.2 billion. SodaStream had previously operated a manufacturing facility in the West Bank settlement of Mishor Adumim, which was the subject of sustained BDS campaigns. The facility was relocated to the Negev in Israel prior to the PepsiCo acquisition. PepsiCo also holds a 50% stake in Sabra Dipping Company, a producer of hummus and other dips, the other half of which is owned by the Israeli company Strauss Group.