An activist investment firm has taken a $4 billion stake in PepsiCo and is pushing for major changes. The firm criticized PepsiCo’s broad brand portfolio, which includes Lay’s, Doritos, Gatorade, and Quaker, and suggested that the company consider selling off some brands. It also recommended restructuring PepsiCo’s bottling network. PepsiCo has recently fallen behind Coca-Cola and Dr Pepper in market performance.

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