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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
January 8, 2001
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Date of Report (Date of earliest event reported)
PepsiCo, Inc.
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(Exact name of registrant as specified in its charter)
North Carolina
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(State or other jurisdiction of incorporation)
1-1183 13-1584302
(Commission File Number) (IRS Employer Identification No.)
700 Anderson Hill Road, Purchase, New York 10577
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(Address of Principal Executive Offices)
Registrant's telephone number, including area code: (914) 253-2000
Item 5. Other Information
The information contained in Exhibit 20 hereto is incorporated herein by
reference.
"Forward-looking statements", within the meaning Section 27A of the Securities
Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of
1934, are made in this document. These forward-looking statements are based on
currently available competitive, financial and economic data and our operating
plans and are subject to risks, uncertainties and assumptions. As a result, the
forward-looking events discussed in this document and the exhibit hereto could
turn out to be significantly different from expectations or may not occur.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Date: 1/08/2001
PepsiCo, Inc.
By: /s/ ROBERT F. SHARPE, JR.
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Robert F. Sharpe, Jr.
Senior Vice President, Public
Affairs, General Counsel
and Secretary
Page 2
INDEX TO EXHIBITS
Exhibit Number Description Page
20 Press release from PepsiCo, Inc. 5
dated January 8, 2001
Page 3
PEPSICO ANNOUNCES DEALS TO EXPAND SNACK PRESENCE IN THE MIDDLE EAST WITH MAJORITY-OWNED JOINT VENTURE IN EGYPT AND ACQUISITION IN SAUDI ARABIA Company will also make transaction filings on Quaker Oats merger this week; Chairman reaffirms confidence in Q4 EPS Estimate and 2001 Outlook PURCHASE, N.Y., Jan. 8 -- PepsiCo, Inc. today announced two strategic transactions designed to expand the company's snack food business in Egypt and Saudi Arabia. A new joint venture will be formed in Egypt combining the salty snack operations of Chipsy, the current market leader, with Tasty Foods, the country's second-largest salty snack maker, which is owned by PepsiCo. Although exact ownership terms of the joint venture were not disclosed, the new company, to be called Chipsy International, will be majority-owned by PepsiCo. Chipsy International will have the strength and scale to compete more effectively in Egypt and eventually expand across North Africa. PepsiCo also said it has completed negotiations to acquire Tasali Snack Foods, the leader of the Saudi Arabian salty snack market. Pending government approval, the assets of Tasali will be combined with those of Saudi Snack Foods, a PepsiCo joint venture which had been the second-largest snack company in Saudi Arabia. "These transactions are important steps in our effort to build a global snack business with the scale to operate efficiently and grow the salty snack category in developing markets," said PepsiCo Chairman and Chief Executive Officer Roger Enrico. Enrico also commented on PepsiCo's broader financial outlook. "We are comfortable with the consensus estimate of earnings per share for the fourth quarter of 2000," he said. "And we remain confident that we can achieve our full-year target of 12-13% growth for 2001." With respect to PepsiCo's planned merger with The Quaker Oats Company, which was announced in December, PepsiCo said it plans to file this week a registration statement with the Securities and Exchange Commission and to make required filings with U.S. antitrust authorities. CONTACT: Richard M. Detwiler, Jr., Vice President Public Relations, PepsiCo, Inc. 914-253-2725