PepsiCo, Inc.

Consumer Packaged Goods (CPG)Founded 1965

Market Data Current As Of: September 12, 2026

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PepsiCo, Inc.

Consumer Packaged Goods (CPG)Founded 1965

Reviewed by Swet Parvadiya

Last reviewed: September 12, 2026

Market Data Current As Of: September 12, 2026

Company History

PepsiCo: Founding, Growth & Key Milestones

Founded 1965 in Purchase, New York, United States

Founding Story

In 1898, North Carolina pharmacist Caleb Bradham invented 'Pepsi-Cola' in his drugstore, formulating a refreshing concoction of carbonated water, sugar, vanilla, and kola nuts to aid digestion. Decades later in 1965, Donald M. Kendall (CEO of Pepsi-Cola) and Herman W. Lay (founder of Frito-Lay) recognized an ingenious commercial synergy: consumers who buy a bag of salty potato chips almost invariably want a cold, refreshing beverage to wash it down. Kendall and Lay merged their two companies on June 8, 1965, creating PepsiCo. By combining Frito-Lay's unmatched Direct-Store-Delivery truck network with Pepsi-Cola's global marketing genius, Kendall and Lay created a consumer packaged goods empire that revolutionized retail merchandising.

Founders

Caleb Bradham

Caleb Bradham was the inventor of Pepsi-Cola. In 1898, in his New Bern pharmacy, Bradham formulated the cola recipe to serve refreshing drinks to customers. Bradham incorporated the Pepsi-Cola Company in 1902, pioneering modern beverage advertising with racecar driver Barney Oldfield before sugar market volatility forced a restructuring in the 1920s.

Donald M. Kendall

Donald Kendall was the primary architect of modern PepsiCo. In 1965, Kendall partnered with Herman Lay to merge Pepsi-Cola with Frito-Lay, creating PepsiCo. Kendall led the company for two decades, negotiating the historic deal to bring Pepsi to the Soviet Union in 1972 and launching the 'Pepsi Challenge' advertising campaign.

Herman W. Lay

Herman Lay was the founding co-architect of PepsiCo and founder of Lay's potato chips. Lay pioneered the Direct-Store-Delivery truck system, merging with The Frito Company in 1961 and co-founding PepsiCo with Donald Kendall in 1965.

Key Milestones

1898

Caleb Bradham Formulates Pepsi-Cola

Pharmacist Caleb Bradham created Pepsi-Cola in New Bern, North Carolina.

1965

Merger of Pepsi-Cola & Frito-Lay to Create PepsiCo

Donald Kendall and Herman Lay engineered the historic merger, creating a unified snack and beverage giant.

1975

Launch of the 'Pepsi Challenge' Campaign

Introduced blind taste tests demonstrating consumer preference for Pepsi over Coca-Cola, reshaping marketing history.

1998

Acquisition of Tropicana Products ($3.3B)

Acquired market-leading juice brand Tropicana from Seagram, dominating the chilled breakfast beverage category.

2001

Acquisition of The Quaker Oats Company & Gatorade ($13.8B)

Acquired Quaker Oats, absorbing the dominant sports hydration brand Gatorade into PepsiCo's portfolio.

2018

Acquisition of SodaStream ($3.2B) & Ramon Laguarta Appointed CEO

Acquired in-home sparkling water maker SodaStream and appointed veteran executive Ramon Laguarta as CEO.

2022

Strategic Alliance & Equity Stake in Celsius Holdings ($550M)

Became the exclusive global distribution partner for fast-growing energy drink brand Celsius.

2026

Surpasses $91.5B Revenue & 23 Billion-Dollar Brands

Achieved annual revenue exceeding $91.5 billion in USD with net income surpassing $9.1 billion.

Major Acquisitions

The Quaker Oats Company (including Gatorade)

2001

Landmark acquisition to absorb the world's dominant sports hydration brand Gatorade and oatmeal giant Quaker.

SodaStream International

2018

Acquired leading in-home sparkling water maker to expand sustainable, bottle-free hydration.

Tropicana Products

1998

Acquired premium chilled orange juice leader to dominate morning breakfast beverages.

PepsiCo Company History FAQ

What are the defining historical milestones for PepsiCo, Inc.?

Since its establishment in 1965, PepsiCo, Inc. expanded from an early-stage venture into a recognized leader in Consumer Packaged Goods (CPG), Non-Alcoholic Beverages, Savory Snacks, Nutrition & Food Manufacturing, overcoming key market challenges.

What major strategic pivots shaped PepsiCo, Inc.'s evolution?

Over its history, PepsiCo, Inc. executed decisive strategic pivots toward scalable monetization and digital distribution, securing its current market leadership.

How has PepsiCo, Inc. adapted to recent industry disruptions?

By continually modernizing operations and embracing workflow automation, PepsiCo, Inc. maintains resilience through changing technological and economic cycles.

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The Procter & Gamble Company

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Explore PepsiCo

Core profile pages, annual revenue records, and related research hubs for this company.

Founding Story

Founders

Caleb Bradham

Donald M. Kendall

Herman W. Lay

Key Milestones

1898

Caleb Bradham Formulates Pepsi-Cola

Pharmacist Caleb Bradham created Pepsi-Cola in New Bern, North Carolina.

1965

Merger of Pepsi-Cola & Frito-Lay to Create PepsiCo

Donald Kendall and Herman Lay engineered the historic merger, creating a unified snack and beverage giant.

1975

Launch of the 'Pepsi Challenge' Campaign

Introduced blind taste tests demonstrating consumer preference for Pepsi over Coca-Cola, reshaping marketing history.

1998

Acquisition of Tropicana Products ($3.3B)

Acquired market-leading juice brand Tropicana from Seagram, dominating the chilled breakfast beverage category.

2001

Acquisition of The Quaker Oats Company & Gatorade ($13.8B)

Acquired Quaker Oats, absorbing the dominant sports hydration brand Gatorade into PepsiCo's portfolio.

2018

Acquisition of SodaStream ($3.2B) & Ramon Laguarta Appointed CEO

Acquired in-home sparkling water maker SodaStream and appointed veteran executive Ramon Laguarta as CEO.

2022

Strategic Alliance & Equity Stake in Celsius Holdings ($550M)

Became the exclusive global distribution partner for fast-growing energy drink brand Celsius.

2026

Surpasses $91.5B Revenue & 23 Billion-Dollar Brands

Achieved annual revenue exceeding $91.5 billion in USD with net income surpassing $9.1 billion.

Major Acquisitions

The Quaker Oats Company (including Gatorade)

2001

Landmark acquisition to absorb the world's dominant sports hydration brand Gatorade and oatmeal giant Quaker.

SodaStream International

2018

Acquired leading in-home sparkling water maker to expand sustainable, bottle-free hydration.

Tropicana Products

1998

Acquired premium chilled orange juice leader to dominate morning breakfast beverages.

PepsiCo Company History FAQ

What are the defining historical milestones for PepsiCo, Inc.?

What major strategic pivots shaped PepsiCo, Inc.'s evolution?

Over its history, PepsiCo, Inc. executed decisive strategic pivots toward scalable monetization and digital distribution, securing its current market leadership.

How has PepsiCo, Inc. adapted to recent industry disruptions?

By continually modernizing operations and embracing workflow automation, PepsiCo, Inc. maintains resilience through changing technological and economic cycles.