PepsiCo has been trying to accelerate the growth of their nutrition portfolio, aiming to more than double its revenue from nutritious drinks and snacks to $30 billion by 2020.
Currently, most of PepsiCo's sales remain skewed toward less healthy products, and they still rely heavily on their beverage unit, which is under-performing rival Coca-Cola.
Part of the company's nutrition strategy involves "snackifying'' beverages and "drinkifying'' snacks. They're creating products combining fruit, grains and dairy, recently launching a fruit purée in the U.S. that's thick enough to be a snack, and an oatmeal-based drink in Latin America.
On the diary front, PepsiCo is turning to yogurt. They plan to create a joint venture with German dairy company Theo Müller Group, and launch a new brand in the U.S. The yogurt market in the U.S. has roughly doubled in the past decade.
The venture is expected to be unveiled in coming weeks.
Source: The Wall Street Journal