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PepsiCo ceo denies merger rumour
Indra Nooyi, the CEO of PepsiCo, has dismissed speculation that the drinks giant is lining up a merger with Swiss food group Nestlé. Speaking to analysts as she reported the company’s Q2 figures, Nooyi confirmed that “our strategy is unchanged”.
The aim is to continue to generate organic growth and focus on “tuck in” acquisitions.
Nooyi’s comments as Pepsi reported an impressive set of figures, with profits up 13% to US$1.56 billion and revenue up 10% to $9.6bn. The company has seen a gradual decline in US carbonated drinks sales, down 4% by volume, and is attempting to counter this with health & wellbeing-focused acquisitions, such as Izze Beverage Co and Naked Juice Co.
Internationally PepsiCo has continued to generate strong growth in most markets. International volume is up 8%, with double-digit growth reported in the UK, Pakistan, Russia, China and the Middle East.
Ben Grant, 25/07/07