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PepsiCo plans $30bn push into healthy eating
by telegraph.co.uk - 31/01/2010
"PepsiCo is to launch a $30bn (£19bn) push into nutritional and healthy foods after its global chief executive said she wanted to fundamentally change the mix of products the global food conglomerate produces. "
Indra Nooyi, the chief executive of PepsiCo, which employs nearly 200,000 people worldwide, said that she wanted the company to treble the revenue gained from its 'good-for-you' ranges, which include Quaker Oats, Tropicana and Naked Juice.
"We, as a company, have $43bn in revenue. Of that, more than $30bn is in what we call 'fun-for-you' products, such as treats, soft-drinks and chips.
"We worked hard to make these treats healthier. That was the first part of the transformation. The second part is the $10bn that we have in PepsiCo that represents good-for-you products. Our long-term goal is to figure how to grow this part of the business really fast."
Ms Nooyi wants the $10bn figure to rise to $30bn in the next decade, a three-fold increase.
"The $10bn to $30bn is a goal. It's bold, but I think it's a goal that is doable with some creativity," Ms Nooyi said.
In the UK, revenue from the good-for-you ranges, according to Nielsen figures, was approximately £300m in 2008, with total UK sales in excess of £1bn.
If the same Nooyi formula was applied to the UK market, that would see an increase to £900m in good-for-you revenue alone.
Ms Nooyi said the market would see many more Tropicana and Quaker Oats products. She also revealed that PepsiCo was looking at developing a nutritional drink aimed at children.
"We do not market to kids under 12, that is the stated goal of the company," she said. "We are very careful on nutrition for kids. We do not have a nutritious product we feel comfortable marketing to young kids.
"In terms of a processed snack for kids, we haven't yet said: 'This is a highly nutritious product for you, kids', because that is a high bar. I'm talking of kids under 10 years old. We want to make sure when we go there, we are absolutely above board."
More Details: http://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/7113250/PepsiCo-plans-30bn-push-into-healthy-eating.html
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