PepsiCo Financial News

Varun Beverages share price rallied over 17% to hit a fresh 52-week high on Wednesday after the company announced the acquisition of South Africa’s Bevco, which analysts believe to be a good value creation opportunity. Varun Beverages shares jumped as much as 17.78% to a 52-week high of ₹1,380.45 apiece on the BSE. One of the largest franchise bottlers of PepsiCo in the world, Varun Beverages announced that its board of directors approved the acquisition of 100% stake in South Africa’s The Beverage Company Ltd (BevCo) with plans to expand its geographical footprint in Africa.

Varun Beverages Ltd (VBL), one of PepsiCo’s largest franchise bottlers worldwide, announced the acquisition of South Africa-based Beverage Company (Bevco) along with its wholly-owned subsidiaries at an enterprise value of Rs 1,320 crore, on Tuesday. The proposed transaction is valued at an enterprise level of ZAR 3 billion (Rs 1,320 crore) and will help it expand its geographical footprint in the African market, the company said in a stock exchange filing. BevCo, which has franchise rights from PepsiCo Inc, in South Africa, Lesotho and Eswatini, manufactures and distributes licensed PepsiCo and own-branded non-alcoholic beverages in South Africa.

Investing.com — U.S. futures edged higher Tuesday, struggling to maintain the recent rally as Fed officials attempt to rein in elevated levels of optimism of interest rate cuts next year.

(Reuters) — U.S. stock index futures edged higher on Tuesday, building on strong gains in recent weeks as investors continued to bet on a policy pivot by the Federal Reserve next year.

Kinnear’s Mills, Que. — Founded a century ago as the Union Catholique des cultivateurs, Quebec’s powerful farmers’ organization in 1972 adopted a more inclusive name: the Union des producteurs agricoles (UPA), or agricultural producers’ union.

ACCording to several people aware of the developments, CEO Vishal Kaul, human resource head Manisha Kadagathur, and chief revenue officer Amar Jethithor have tendered their resignations. Chief marketing officer Sushrut Pant, who joined Vini this March, quit in November and joined Shree Cement as head of marketing, according to his LinkedIn profile. Darshan Patel, non-executive chairman of Vini Cosmetics, confirmed the CEO’s exit.

Subway India has ended its five-year exclusive deal with beverages maker PepsiCo India to sell its products at the sandwich and salad chain's outlets, and signed up with rival Coca-Cola, executives aware of the development said. All 570-plus Subway stores in India will now sell only Coca-Cola's soft drinks, juices, coffee, tea and water, one of the executives said. A Coca-Cola spokesperson confirmed the deal with Subway. «We constantly join forces with different brands,» she said in an emailed response to ET's queries. The sandwich chain has started updating its online ordering app with Coca-Cola drinks, on aggregator platforms such as Swiggy and Zomato. Subway India and PepsiCo had announced their partnership in 2018. Exclusive beverage partnerships with large food services chains drive significant sales via out-of-home and delivery channels for companies like PepsiCo and Coca-Cola.

ITC came out looking the best among Indian companies by healthiness score, followed by Hindustan Unilever, Nestlé India, PepsiCo India and Coca-Cola India. But that is really nothing to crow about. “The mean healthiness of companies’ products was found to be 1.9 stars out of 5.0 (the same as in 2020), with substantial variation observed between companies.

The Federal Trade Commission says it issued warnings to two food and beverage industry groups, as well as to a dozen online influencers and dieticians for failing to adequately disclose paid social media posts that promoted a sweetener and sugary products

New York state has sued PepsiCo in an effort to hold the soda-and-snack food giant partly responsible for litter that winds up in bodies of water that supply the city of Buffalo with drinking water

By Clark Mindock and Jonathan Stempel

Kedarnath Aggarwal, chairman of one of India’s largest and most-well known packaged snacks and sweets companies, Bikanervala Group, passed away on Monday, at the age of 86. Kedarnath, along with his brother Satyanarayan Aggarwal, started Bikanervala in the 1950s as street vendors in Old Delhi. All they had, was a legacy from their hometown in Bikaner and determination to make it big.

(Reuters) -U.S. companies across sectors such as food and beverage makers and manufacturers of glucose monitors are facing investor questions over the risk to future sales from the growing popularity of promising weight-loss treatments.

WeWork filed for Chapter 11 bankruptcy protection in the United States on Monday, as part of what it described as a «comprehensive reorganization» of its business. The startup, which was once worth about $47 billion, had started sending distress signals months in advance.

Pepsico-owned snack maker, as well as its rival brand Bingo to respond. Bunshah, in his video, marked his angst over the new flavour of Lays Masala Magic, which according to him was “sweet". He demanded the potato chips producer to bring back the flavour of Lays Masala Magic as it existed since several years.

The Walt Disney Co. on Monday named 34-year PepsiCo veteran Hugh Johnston as its new chief financial officer

Walt Disney (NYSE:DIS) announced Monday that it has hired Hugh Johnston, the longtime CFO of PepsiCo (NASDAQ:PEP), as its new finance chief.

Morgan Stanley conducted a comparative analysis of the Tesla (NASDAQ:TSLA) Semi and existing heavy-duty BEV trucks. Analysts expect the Tesla Semi to offer a competitive payload, creating a highly efficient, long-range, fast-charging, software-driven Class 8 truck.

New Delhi (India), October 20: In the constantly evolving world of finance and investment, opportunities are explored and expanded every minute. Stockify is emerging as a notable name in this realm, pushing the boundaries of traditional investment avenues. The company is garnering significant attention from investors by offering a diverse array of financial products and services.

Biocon Biologics on Thursday announced it has appointed Kedar Upadhye as its new CFO. Upadhye will be replace current CFO MB Chinappa who will take up strategic finance role at Biocon Group and will work with Peter Bains, the recently appointed Group CEO of Biocon. The leadership changes will be effective October 31, 2023, Biocon Biologics said in a statement. «He (Kedar) joins us at an inflection point in our journey to become a leading global biosimilars company as we look to consolidate and unlock value in the acquired business,» said Shreehas Tambe, CEO and MD of Biocon Biologics. «I am confident that he will build further on the strong foundation and with his expertise and experience work closely with all stakeholders to drive growth and deliver on our business goals,” Tambe added. Upadhye brings with him over 23 years of experience in senior global leadership roles at leading pharma, energy and FMCG companies such as Cipla, Dr.

Check out the companies making headlines in midday trading.