When it comes to making acquisitions, PepsiCo (PEP - Get Report) has always been a patient bunch. But when it decides to strike, it very often strikes big and with something that could transform the company's bottom line.
One such deal could be lurking. The soda and snacks maker is in talks to acquire All Market Inc., the owner of coconut water brand Vita Coco, Reuters reported on Friday evening. PepsiCo offered less than the $1 billion that All Market's owners have been seeking to sell the company, the report said.
Nooyi added that "we don't shy away from investments that could grow this company." The long-time PepsiCo executive explained at the time the company was having trouble either finding the right strategic fit, or was unwilling to pay high multiples for up-and-coming beverage or snack brands.
To be sure, the modern day PepsiCo has been created via doing the big deal. The most prominent being its combination with snack maker Frito Lay in 1965.
In 1998, PepsiCo purchased Tropicana for about $3.3 billion, a deal Nooyi was heavily involved in making happen. Then in 2000, Nooyi was instrumental in getting PepsiCo to plunk down a colossal $13.4 billion to buy Quaker Oats, which also gave it access to the coveted Gatorade brand. The company's purchase of Izze for an undisclosed sum in 2006 gave it access to the hot-selling sparkling water category, while in the same year it gobbled up juice brand Naked for an undisclosed amount.
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