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Brussels, 28 March 2001

Commission authorises acquisition of Quaker by Pepsico

The European Commission has today granted clearance under the European Union's merger control rules to the proposed takeover of the Quaker Oats Company by Pepsico Incorporated, both from the United States. The transaction does not give rise to competition concerns in any European market.

Pepsico is a soft drinks and snack food company best known for its Pepsi-Cola brand and Quaker is principally involved in the manufacture and sale of packaged food products, notably breakfast cereals, as well as so-called sports or energy beverages. The activities of the two companies are largely complementary, and they do not compete other than to a marginal extent on any market in Europe.

The Commission examined whether the addition of Quaker's "Gatorade" sports drink to Pepsico's range of drink products would have any harmful effect on competition in Europe, but concluded there would be no such problems given that Pepsico currently neither produces nor sells any sports drink in Europe.

PepsiCo is a US-based corporation whose businesses consist of the Pepsi-Cola Company, a soft drink company which primarily produces and sells soft drink concentrate to its independent authorized bottlers, Frito-Lay, Inc, a manufacturer and distributor of savoury snack products, and Tropicana Products, Inc, which produces, sells and distributes branded juices in many countries. In Europe, PepsiCo sells principally carbonated soft drinks, fruit juices and savoury snack foods. Its main brands include Lays and Ruffles, Doritos, Cheetos, Pepsi-Cola, Seven Up and Tropicana Pure Premium. Quaker is a US-based company active in the worldwide manufacture and marketing of packaged food products and beverages. Quaker manufactures sports beverages, hot cereals, pancake mixes and syrups, value added pasta and rice side dishes, ready-to-eat cereals. Apart from the "Gatorade" sports drink, it is best-known for its "Quaker Oats" porridge brand.

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