Activist investor takes €3.4bn stake in PepsiCo to boost share price

The food and beverage giant has a significant presence in Ireland. Some 700 people are employed at PepsiCo's Little Island facility in Cork

PepsiCo, a global food and beverage leader, completed a €127m investment at its facility in Little Island, Cork, in 2023. Picture: PepsiCo

Activist investor Elliott Management disclosed a $4bn (€3.4bn) stake in PepsiCo, launching a campaign to restore growth and boost the beverage maker's share price.

The stake in PepsiCo, one of Elliott's biggest holdings, comes as the company tackles choppy demand for its snacks business, and pursues a shift to healthier drinks and sodas to address changing consumer preferences.