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PepsiCo To Acquire Rockstar For $3.85 Billion

11Mar By AdityaNo Comments

ACQUISITION

PepsiCo To Acquire Rockstar For $3.85 Billion

PURCHASE, N.Y., March 11, 2020-- PepsiCo announced that it has entered into an agreement to acquire Rockstar Energy Beverages ("Rockstar"), the popular energy drink maker, for $3.85 billion. "As we work to be more consumer-centric and capitalize on rising demand in the functional beverage space, this highly strategic acquisition will enable us to leverage PepsiCo's capabilities to both accelerate Rockstar's performance and unlock our ability to expand in the category with existing brands such as Mountain Dew," said PepsiCo Chairman and CEO, Ramon Laguarta. "Over time, we expect to capture our fair share of this fast-growing, highly profitable category and create meaningful new partnerships in the energy space." Rockstar, founded in 2001, produces beverages that are designed for...

Pepsi to Acquire SodaStream to Diversify its Portfolio

21Aug By Gauri SinghNo Comments

ACQUISITION

Pepsi to Acquire SodaStream to Diversify its Portfolio

One of the largest beverage company Pepsi has announced that it is eyeing to acquire SodaStream, which is a Tel Aviv-based beverage company. The deal is expected to be done at an amount of $3.2 billion. This step has been primarily taken because more consumers are these days preferring sustainable, in-home options rather than sugary beverages. Pepsi with this acquisition is trying to diversify its portfolio and expand its reach internationally. At present, Pepsi products are sold in retail shops in 45 countries, majorly in the U.S., Germany, France and Canada. “PepsiCo and SodaStream are an inspired match. Daniel and his leadership team have built an extraordinary company that is offering consumers the ability to make great-tasting beverages while reducing the amount of waste genera...

PepsiCo CEO Indra Nooyi Steps Down After 12 Years

7Aug By Gauri SinghNo Comments

News

PepsiCo CEO Indra Nooyi Steps Down After 12 Years

The largest beverage corporation PepsiCo Inc has announced that its long-term chief executive officer Indra Nooyi will step down after 12 years of leading the food and beverage giant. Nooyi has been with PepsiCo for 24 years and now will continue as chairman of the board until early 2019. After her resignation, President Ramon Laguarta will be joining in as her replacement. Laguarta will take over from Nooyi on 3rd Oct 2018 and will also join the board. “I’ve had a wonderful time being CEO, but at some point you sit back and say, look, it’s a responsible move to effect an orderly transition and to have somebody else take over the leadership of this company. Being a CEO requires strong legs and I feel like I ran two legs of a relay race and I want somebody else with nice strong legs and...

Ola Chief Operation Officer Vishal Kaul Resigns

19May By Lavina TolaniNo Comments

News

Ola Chief Operation Officer Vishal Kaul Resigns

While yesterday we reported the departure of Jeff Holden from American cab hailing company uber, today's there is a news regarding exit of another senior official of rival cab company Ola. Ola's operation chief Vishal Kaul has resigned after serving the firm for one year and four months marking a latest senior level change in the cab riding firm. Confirming the development, Ola in a statement said, Ola would like to thank Vishal Kaul for his invaluable contributions to the company. He has had a very good inning. We at Ola wish him well for all his future endeavours. Kaul mentioned that he "is moving to pursue another exciting opportunity" and did not elaborate further. An alumnus of Symbiosis Centre for Management and HRD, Kaul joined Ola as operations chief in February 2017 suc...

Mithun Sundar Joins Myntra to Grow Company

4Apr By Sheldan RungasamyNo Comments

News

Mithun Sundar Joins Myntra to Grow Company

Mithun Sundar, former PepsiCo Senior Director will now be taking over Myntra’s Naresh Krishnaswamy position as Chief Revenue Officer and assist Myntra in its journey in growing its operations and the business as well. Mithun will be heavily relied on in proposing and implementing strategies in the firm’s near and long-term future. Mithun, graduated his Bachelor Degree in Engineering at the IIT, Madras and his MBA at the Northwestern University – Kellogg School of Management. He was previously working for PepsiCo, where he operated as Senior Directo of Strategy for two and a half years is hugely praised for his role in driving sales, marketing and strategy for the leading international brand. Additionally, prior to joining PepsiCo, Mithun Sundar operated as Associate Partner for McKinsey...

How Tesla’s First Truck Charging Stations Will be Built

3Feb By reutersNo Comments

Tech

How Tesla’s First Truck Charging Stations Will be Built

Elon Musk, the chief executive of Tesla Inc, has said little about how he plans to turn his prototype electric truck into reality. But Reuters has learned that Tesla is collaborating with Anheuser-Busch, PepsiCo and United Parcel Service Inc to build on-site charging terminals at their facilities as part of the automaker’s efforts to roll out the vehicle next year. Details of the partnerships, which have not been disclosed previously, are still being hammered out, but include design and engineering from Tesla, the companies said. They declined to disclose what portion of the building costs, if any, Tesla would pay, or whether Tesla would be compensated for its work. The firms are among nine major corporations that have placed pre-orders for Tesla’s truck, dubbed the Semi. With ...

Ola Appoints Vishal Kaul as Chief Operating Officer

23Jan By AnkitaNo Comments

News

Ola Appoints Vishal Kaul as Chief Operating Officer

Ola, India’s most popular mobile app for transportation, today announced the appointment of Vishal Kaul as its Chief Operating Officer. Vishal is a PepsiCo veteran, who has been with the company since the start of his career in 1999. He has held key leadership positions across operations, sales and marketing in his career spanning 18 years within the company. Vishal was most recently the General Manager of PepsiCo Foods for Thailand, Myanmar and Laos. As COO, Vishal will head Ola’s operations, strengthen Ola’s market leadership, expand its reach to nooks and corners of the country and widen the base of Ola's customers and driver-partner fraternity, in line with its mission to build mobility for a billion Indians. The mobility opportunity is massive with over 300 million trips happening ...

Employees are Scared For Their Safety After Trump’s Win: Indra Nooyi

15Nov By Press Trust of IndiaNo Comments

Entrepreneurs Talk

Employees are Scared For Their Safety After Trump’s Win: Indra Nooyi

PepsiCo's India-born CEO Indra Nooyi has said Hillary Clinton's defeat in the elections has left her daughters, gay workers, employees and the non-whites devasted as there was "serious concern" among them about their safety in the US with Donald Trump as president. "Do you have a box of tissues here," Nooyi, a staunch Clinton supporter, said at the New York Times Dealbook Conference here when asked how she felt on the morning of November 9, when Trump won the presidential election. A visibly dejected Nooyi said Clinton's loss left her daughters and PepsiCo's employees devastated and there were serious concerns among the company's workers, especially the non-white employees, about their safety in an America with Trump as its president. "I had to answer a lot of questions from my daughte...

PepsiCo Franchisee Varun Beverages Gets Sebi Nod For IPO

7Sep By Press Trust of IndiaNo Comments

BUSINESS

PepsiCo Franchisee Varun Beverages Gets Sebi Nod For IPO

Varun Beverages, franchisee for soft drinks maker PepsiCo, has received markets regulator Sebis approval to raise over Rs 1,000 crore through an initial public offering. Besides, leading logistics service and solutions provider, Seaways Shipping & Logistics has also got Sebis nod to float an IPO. Varun Beverages and Seaways Shipping & Logistics had filed their draft red herring prospectuses with the Securities and Exchange Board of India (Sebi) in June and March, respectively. The two firms got the regulator approval on August 31, as per the latest update. The initial public offer (IPO) of Varun Beverages entails sale of up to 2.5 crore shares, including fresh issue of 1.5 crore shares and offloading of stake by the promoters. Apart from fresh issue of 1.5 crore equity sh...

PepsiCo Indian Franchisee Varun Beverages Files For IPO

25Jun By Press Trust of IndiaNo Comments

BUSINESS

PepsiCo Indian Franchisee Varun Beverages Files For IPO

Varun Beverages, franchise for soft drinks maker PepsiCo, today filed preliminary papers with Sebi for an IPO to raise over Rs 1,000 crore. The IPO entails sale of up to 2.5 crore shares, including fresh issue of 1.5 crore shares and offloading of stake by promoters. The company has filed the draft red herring prospectus with the Securities and Exchange Board of India (Sebi), it said in a release. Sources said Varun Beverages expects to raise more than Rs 1,000 crore through the initial public offer. Apart from fresh issue of 1.5 crore equity shares, there would be offer for sale of up to 5,000,000 shares each by Varun Jaipuria and Ravi Kant Jaipuria & Sons (HUF), the release said. A portion of shares in the IPO would be reserved for eligible employees not exceeding five per...