PepsiCo to cut prices and eliminate products in major overhaul
Beverage and snack giant PepsiCo is set to overhaul its product portfolio, announcing plans to cut prices and streamline its offerings following pressure from activist investor Elliott Investment Management.
The New York-based conglomerate, known for brands such as Cheetos, Tostitos, and its extensive beverage range, intends to eliminate nearly 20 percent of its current product lines by early next year. This strategic move aims to free up capital for increased marketing investment and to deliver enhanced value to consumers, though specific products slated for removal and the extent of price reductions remain undisclosed.
Concurrently, PepsiCo is accelerating the launch of new items featuring simpler, more functional ingredients. Examples include Doritos Protein and the Simply NKD range of Cheetos and Doritos, which are free from artificial flavors or colors. The company also recently introduced a prebiotic version of its signature cola.
These significant changes come after Elliott Inve..
