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.
