Boston, MA 08/15/2014 (wallstreetpr) – The global food and beverage business, PepsiCo, Inc. (NYSE:PEP) is about to receive a good news from the Trian Fund Management LP. The Trian Fund Management LP announced that it had increased the stakes in PepsiCo by 517,107 shares. The increment of shares took place during the second quarter, which increased the holdings to 12.9 million shares.
PepsiCo refused the splitting of its snacks and drinks segment:
The activist investment fund has been carrying on a fight with PepsiCo, Inc. (NYSE:PEP) to separate the drinks and snacks section. However, the company refused the split up and firmly stated that the company is reliable as it operates both segment alongside.
$2 billion fine for PepsiCo:
A day ago the company came upfront of a news that stated that PepsiCo and Quaker Oats unit were sued for trademark breaching by the descendants of the woman on whom the product line up, ‘Aunt Jemima’ was based. The company is charged a penalty of $2 billion for the damage.
Heirs asked for the ban of the product:
In the case was filed against PepsiCo, Inc. (NYSE:PEP) in the federal court in Chicago. In the case the successors stated that the Anna Short Harrington’s image was used by the company without providing proper compensation. The successors requested to ban the Quaker Oats products in the West African emerging markets. The heirs asked to punish the company as it has caused collateral financial damage to the black Americans.
Spokesperson says:
A spokesperson from PepsiCo, Inc. (NYSE:PEP), Jody Menaker stated in an e-mail letter that the company does not believe there is any value in the suit. She added that consumers relate the ‘Aunt Jemima’ brand with comfort, hospitality and warmth, and the company follows this heritage along with the ways in which it executes the businesses.
