Investor Urges Pepsi Co To Drop Beverage Unit, Buy Up Oreos
Everyone has their favorite unlikely food pairing. For some it’s chips and ice cream, for others it’s ranch dressing and pizza, but a new food pairing, Oreos and Pepsi, may just be a match made in corporate heaven.
“Activist investor” Nelson Peltz is pushing for PepsiCo to buy up Oreo Cookie maker Mondelez and to abandon its beverage department, which has been seeing losses lately from the lack of Americans drinking soda, according to the Huffington Post.
Such a deal would mean many more foods would come together under the brand including Cheetos, Doritos and Lay's potato chips.
Peltz has already been imbibing in both companies. As of March 31, he had a $1.23 billion share in Mondelez and a $951.8 million share in PepsiCo, according to a filing with the Securities and Exchange Commission as quoted by the Huffington Post.
While this is his plan A, Peltz told the Huffington Post that his plan B would still involve the company loosening ties with its beverage units to focus on snack foods.
"Pepsi is at a crossroads," Peltz told the Huffington Post.