Mergers and Acquistions News
Categories: BPO
December 16th 2008, 15:58PM
The second-biggest soft drink company in the world has announced it has no merger or acquisition plans for the near future.
PepsiCo has announced it is not planning ant more acquisitions of North American drinks manufacturers due to the current economic climate, reports Associated Press.
The company, which recorded a 2.5 per cent decline in volume sales for the third quarter of 2008, also has a food arm, PepsiAmericas Foods, which it claims resources will be focused on.
Indra Nooyi, chief executive of PepsiCo, told the news provider the company's research and development pipeline was "well-primed".
He added: "I'd like us not to make any more beverage acquisitions, tuck-in type acquisitions."
A recent study by analyst firm Zephyr found that merger and acquisition activity in the EU hit a 12-month low during November.
Only 875 deals were written during the month, totalling £30 billion, with the UK putting through 214 of the takeovers.
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