Key Developments: PepsiCo Inc (PEP.N)
20 Dec 2013
Latest Key Developments (Source: Significant Developments)
Almarai Co Joint Venture Subsidiary with PepsiCo Inc To Acquire its Minority Shareholding in Teeba Investment for Developed Food Processing Co.
Almarai Co announced that its subsidiary International Dairy & Juice (IDJ), a joint venture between Almarai Company (52%) and PepsiCo Inc (48%) has signed an agreement to increase its stake in Teeba Investment for Developed Food Processing Co. which operates in Jordan from 75% to 100% through the purchase of the minority shareholding of 25% hold by Alsafa Company for a total consideration of JOD 12 million. This simplified ownership structure will help the IDJ shareholders drive the Teeba investment forward. Full Article
The Economic Times reported that PepsiCo Inc has expanded Tropicana range in India with the launch of three variants of Tropicana juices in powdered form. The Company has launched Tropicana Fruit Powders in three variants orange, lemon and mixed fruit in some select markets across the country. Initially, it launched the new range in Chennai and Bangalore in South India and Mumbai and Pune in Maharashtra, PepsiCo India Senior Director-Marketing (Colas, Juices & Hydration), Homi Battiwalla said. He added that the new product range would be launched across the country in phases. Full Article
PepsiCo Inc announced that for fiscal 2013, it expects 7% core constant currency EPS growth versus its fiscal 2012 core EPS of $4.10. Based on the current foreign exchange market consensus, the Company expects that foreign exchange translation will have an unfavorable impact of up to 1 point on the Company's full-year core EPS performance in fiscal 2013. Excluding the impact of structural changes and foreign exchange translation, organic revenue is expected to grow mid-single-digits, consistent with the Company's long-term targets. The impact of structural changes, principally beverage refranchisings, are expected to reduce organic revenue growth by approximately 1 percentage point for the fiscal 2013. Full Article
PepsiCo Inc announced a new share repurchase program providing for the repurchase of up to $10 billion of PepsiCo common stock from July 1, 2013 through June 30, 2016, which will succeed the current repurchase program that expires on June 30, 2013. The Company also announced a 5.6% increase in annualized dividend to $2.27 per share from $2.15 per share, to take effect with the June 2013 payment. Full Article
PepsiCo Inc announced that the Board of Directors has declared a quarterly dividend of $0.5375 per share of PepsiCo common stock. The dividend is payable March 29, 2013, to shareholders of record on March 1, 2013. Full Article
PepsiCo Inc announced that it has declared a quarterly dividend of $0.5375 per share of PepsiCo common stock. The dividend is payable January 2, 2013, to shareholders of record on December 7, 2012. This quarterly dividend is a 4% increase versus the comparable year-earlier period. Full Article
PepsiCo Inc Opens Food and Beverage R&D Center in Shanghai to Drive Innovation and Growth Across Asia
PepsiCo Inc announced the opening of a new food and beverage innovation center in Shanghai, China. The facility, which is PepsiCo's largest research and development center outside of North America, will serve as a hub of new product, packaging and equipment innovation for PepsiCo's businesses throughout Asia Full Article
PepsiCo Inc. announced that consistent with its previous guidance for fiscal 2012, the company expects a decline in core constant currency earnings per share (EPS) of approximately 5% from its fiscal 2011 core EPS of $4.40. Based on the current foreign exchange market consensus, foreign exchange translation would have an unfavorable impact of approximately three percentage points on the Company's full year core EPS performance in fiscal 2012. Consistent with its previous guidance, the Company expects core constant currency net revenue growth of low-single-digits reflecting the impact of structural changes, principally refranchisings, which are expected to reduce core constant currency net revenue growth by approximately three percentage points for the full year. Excluding these structural changes, core constant currency net revenue is expected to grow mid-single-digits, consistent with the company's prior guidance. The Company reported revenue of $65.881 billion in fiscal 2011. Full Article
Calbee Inc announced that its subsidiary, Calbee North America,LLC, has formed a business alliance with PepsiCo,Inc., on September 20, 2012. Through the business alliance, the two companies will work together on production and sale of "Jagabee". Full Article
PepsiCo Inc announced that John Compton, President of the Company, has chosen to depart PepsiCo to become CEO of Pilot Flying J Oil Corporation based in Knoxville, Tennessee. PepsiCo Europe CEO Zein Abdalla appointed President, PepsiCo. PepsiCo executive Enderson Guimaraes named CEO of PepsiCo Europe, succeeding Abdalla. The personnel changes announced are effective immediately. Full Article
Dec 19 - A privately held maker of plastic bottles, Constar International Holdings LLC, filed its third bankruptcy in five years on Thursday in a bid to complete the sale of the company.