PepsiCo says it met with Nelson Peltz's Trian Fund Management, which has
recently increased its stake in the U.S. snack and beverage giant.
Peltz is known as an activist investor, which has spurred speculation that he
may be seeking to place himself on the board at PepsiCo or force the company to
spin off its Frito Lay division, The New York Times reported Friday.
Speculation is also swirling around Trian's stake in Kraft spin off Mondelez
International, as regulator filings have revealed that Trian has taken a $494
million stake in Mondelez.
Taking the next step, Peltz could be attempting to play matchmaker between Frito
Lay and Mondelez, some have speculated.
"In recent weeks, we have held meetings with Trian to discuss and consider their
ideas and initiatives as part of our ongoing evaluation of all opportunities to
drive long term growth and shareholder value. Trian is a respected investor, and
we look forward to continuing constructive discussions with them," PepsiCo said
in a statement.
At this point, Trian has a $2.7 billion position in PepsiCo and Mondelez, the
Times said.
