It’s no secret that PepsiCo is a vast conglomerate. Haven’t you realized that you can always find a product of theirs, no matter where you go? However, if you think that this beverage behemoth only makes soft drinks, you’d be only seeing the foam on the surface. Although this may sound hard to believe, PepsiCo currently owns 23 brands that generate more than $1 billion in annual retail sales each, thanks to decades of acquisitions. Let’s see where this multinational company decided to hedge its bets!
Sabra
Over the past few years, a dish from Israel known as hummus has taken off in America. Looking at some figures is enough to understand this meal’s consumer reach: at least 26% of Americans have it in their refrigerators, and 70% are familiar with the product. Impressive, right?
Of course, this caught PepsiCo’s CEO’s attention, who didn’t hesitate to enter a joint venture with Strauss Group to take Sabra to the US in 2008. We can say that the deal was pretty good, as this brand now controls 60% of the country’s hummus market.
