Under an initiative approved by the Board, Fortune Brands would become a pure-play spirits company, spin off home and security to shareholders, and either sell or spin off its golf business.
The transaction makes PepsiCo the largest food-and-beverage business in Russia and strengthens its position in fast-growing Eastern European and Central Asian markets.
The acquisition will create a stronger foothold for Sara Lee in the Brazilian territory, given the brands strong market position in the No. 1 coffee producing country.
CEOs from 400 global consumer goods manufacturers and retailers join together to launch initiatives to halt deforestation practices and phase out climate-damaging refrigerants.
