PepsiCo said Friday that it had held meetings with Trian Fund Management, the hedge fund led by Nelson Peltz, to discuss strategic plans, as the hedge fund revealed that it had taken a stake in Mondelez International, the snack food company spun off by Kraft Foods last year.
Trian Fund has increased its stake in Pepsi to $269 million as of the end of 2012, and that it had taken a $494 million stake in Mondelez, according to a Securities and Exchange Commission filing on Friday.
Pepsi did not reveal the nature of the discussions, but both companies have many prominent snack food brands, which could make a strategic fit.
“In recent weeks, we have held meetings with Trian 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,†Pepsi said in a statement. “Trian is a respected investor, and we look forward to continuing constructive discussions with them.â€
A call to Trian’s spokeswoman was not immediately returned on Friday.
