reported the major drinks producer was looking to place its local snacks assets on the market for a potential new buyer.
However, the local division of the New York Stock Exchange company, PepsiCo ANZ, said the speculation was completely false.Earlier, it had been reported PepsiCo had been scoping out consultants to look at the potential demerger of its Australian food operations. Asides from Smith’s chips, the company owns Red Rock Deli, Twisties, Cheetos, Burger Rings, Doritos and Sakata crackers.Source:News Corp Australia
Speculation arose following reports PepsiCo was looking to retain only its global brands within its portfolio, which predominantly skew towards its drink business. The rumours follow the sale of a number of high profile Australian brands in recent years by major food and beverage conglomerates.Nestle has also spun out Violet Crumble and Life Savers, while confectionary giant Mondelez sold Vegemite to Bega Cheese in 2017.
Source: News Formal (newsformal.com)
PepsiCo may have decided that it is too expensive to put money into competing with companies such as CocaCola and other brands. Nobby’s once had some interesting advertising: Nibble Nobbys Nuts: advertising drink