Enter multiple symbols separated by commas

Peltz Builds Bigger Stake in PepsiCo, Mondelez

Nelson  Peltz
Kevin Lorenz | Bloomberg | Getty Images
Nelson Peltz

Trian Fund Management, run by activist investor Nelson Peltz, has amassed large stakes in both PepsiCo and Mondelez International, sources told CNBC on Friday, which total a combined $2.7 billion.

In a regulatory filing, Trian said it began building stakes in both companies in late 2012, buying about $270 million worth of stock in PepsiCo and a $500 million stake in Mondelez. Yet sources tell CNBC that over the last several months, Peltz has added to those stakes materially—Trian now holds about $1.4 billion in Pepsi and $1.3 billion in Mondelez, a spinoff of Kraft Foods.

Analysts have speculated that Peltz's interest in the two companies stems from trying to effect a merger between Pepsi and Mondelez. Some have floated the idea that Pepsi might spin off its Frito-Lay division and merge it with Mondelez, whose CEO Irene Rosenfeld used to run Frito-Lay.

In a statement, Pepsi said that management had been in talks with Trian in order to "discuss and consider their ideas and initiatives as part of our ongoing evaluation of all opportunities to drive long-term growth and shareholder value." The company added that it looked "forward to continuing constructive discussions with them."


  • Facebook's new Menlo Park Campus building 20, in Menlo Park, California.

    CNBC takes an inside look at the new office Facebook needed after the company topped the 10,000 employee mark.

  • A Time Warner Cable truck is viewed in Brooklyn in New York City.

    Charter is in talks with Time Warner Cable about a bid that is likely to be well above the $170 per share, the Wall Street Journal reported.

  • This firm isn't worried about fake goods on Alibaba

    Julie Deane, founder of The Cambridge Satchel Company, says Tmall Global's rationale of checking the IP of each brand it has on its website gave her the confidence to sell her bags on the Alibaba-operated online marketplace.