PepsiCo Renews Partnership With Taco Bell for 11 More Years. Here’s What Investors Need to Know.
Key PointsThe new deal was particularly welcome after PepsiCo suffered a stinging defeat with another high-profile restaurant brand.
PepsiCo has extended its collaboration with fast-food giant Taco Bell for an additional 11 years, through 2036. This agreement covers all U.S. Taco Bell locations, as well as outlets of Taco Bell Cantina and Live Más Cafe in various countries, including the U.S., Canada, the U.K., Ireland, and Thailand. The partnership remains exclusive for PepsiCo, who will continue to be the sole provider of soda and other beverages at these restaurants.
However, the financial details of the extension were not disclosed by PepsiCo. The timing of this renewal is significant, as another major partner, KFC, recently switched to Coca-Cola as its exclusive beverage supplier. Both Taco Bell and KFC, which are operated by the same restaurant conglomerate Yum! Brands, have been associated with PepsiCo for beverage services since its spin-off from PepsiCo in 1997.
PepsiCo's president of the Global Away From Home unit, Anne Fink, acknowledged that the partnership often leads to innovative foodservice ideas, and emphasized that Taco Bell has always brought this energy to the table.
Written by urgent.news from Motley Fool's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
