PepsiCo 2009 Annual Report

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Strength on Strength

Delivering Success for Four Generations
Independent bottlers and distributors play a vital and integral role in the PepsiCo enterprise, and there's no replicating the experience and knowledge that thirdand fourth-generation bottlers contribute. Our partnership with the Minges Bottling Group began in 1935. Since then, four generations have worked with passion, determination and fortitude to deliver the brand they love throughout eastern North Carolina. "Selling Pepsi-Cola is one of the most exciting things anybody could ever do," said CEO Jeff Minges. "Our whole family's identity is Pepsi-Cola, and we're proud to be Pepsi bottlers." Pictured left to right: Thomas Minges, Jeff Minges, Miles Minges.

In 2009, we embarked on a game-changing initiative with the acquisitions of our anchor bottlers–Pepsi Bottling Group and PepsiAmericas–an event that was designed to create a fully integrated beverage system in North America. With the completion of the acquisitions in the first quarter of 2010, we are ready to reinvent the beverage business.

When you combine our current work on refreshing our brands across the entire beverages category with 80 percent ownership of our bottling network, you get a sum greater than the parts.

We now have a united beverage company that is ready to face the challenges of today's market. For our customers, we're creating a nimble, responsive and effective beverage system able to bring a wider variety of products to market more quickly and efficiently with greater flexibility. For our associates, we're building upon a high-performance culture, grounded in respect and appreciation for one another and the people and the communities we serve. Moving forward, we'll be providing greater opportunities for both personal and career growth in a global organization with world-class capabilities.

Simply stated–we will be better able to delight consumers with the brands they love, to grow our customers' businesses and to enable associates to build their careers. We will be better able to create value for PepsiCo shareholders and to improve the communities in which we work.

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