Pepsi’s CEO Indra Nooyi commented that Bare Snacks fits the company’s vision of creating more nutritious products. The Coca Cola’s rival didn’t acquire any company after it purchased the beverage company KeVita for an undisclosed sum in November 2016.
According to a report from Euromonitor, Frito-Lay has maintained its leading position in savory snacks in 2017 with a value share of 39%. Also, the research firm expects the US vegetable, bread, and pulse chips market to reach $2.5 billion by 2022.
Last month, Pepsi reported refreshing results for its first quarter beating Street’s view. However, the New York-based beverage company’s shares reached its 52-week low ($95.94) on May 9. The stock plunged 16% year-to-date and dipped 15% in the past one year. When the market closed today, the stock inched up 0.13% to $100.31.