On January 17, 2025, we acquired all of the outstanding equity interest in Garza Food Ventures LLC (Siete), a Mexican-American foods business, for total consideration of $1.2 billion in cash.

On May 19, 2025, we acquired all of the outstanding equity interest in poppi, a prebiotic soda business, for cash consideration of $1.9 billion and contingent consideration with an acquisition date fair value of $0.2 billion. See Note 8 for further information on the contingent consideration. In connection with this acquisition, other payments may be incurred, subject to the achievement of certain conditions.

We accounted for the 2025 acquisitions as business combinations. We recognized and measured the identifiable assets acquired and liabilities assumed at their estimated fair values on the respective dates of acquisition. The purchase price allocations for Siete and poppi were finalized in the first and second quarter of 2026, respectively.

The fair value of identifiable assets acquired and liabilities assumed in the acquisitions of Siete and poppi and the resulting goodwill as of the respective acquisition dates is summarized as follows:



	Siete		poppi
Acquisition date	January 17, 2025		May 19, 2025
Segment	PFNA		PBNA
Inventories	$	28	$	114
Property, plant and equipment	7		3
Amortizable intangible asset	65		150
Other indefinite-lived intangible asset (brand)	470		1,700
Other assets and liabilities	46		(32)
Total identifiable net assets	616		1,935
Goodwill	630		185
Total purchase price	$	1,246	$	2,120

Goodwill is calculated as the excess of the aggregate fair value of the consideration transferred over the fair value of the net assets recognized. The goodwill recorded as part of the acquisitions of Siete and poppi primarily reflects our expectation of future economic benefits arising from growth opportunities, expanded consumer reach and the strengthening of our overall product offerings across our food and beverage businesses. All of the goodwill associated with our acquisitions of Siete and poppi is recorded in our PFNA and PBNA segments, respectively, and is deductible for tax purposes.

Acquisition and divestiture-related charges/credits include merger and integration charges, transaction expenses, such as consulting, advisory and other professional fees, as well as fair value adjustments to contingent consideration. Merger and integration charges include distribution agreement termination fees, employee-related costs, closing costs and other integration costs.


	12 Weeks Ended				24 Weeks Ended
	6/13/2026		6/14/2025		6/13/2026		6/14/2025
PFNA	$	1	$	6	$	2	$	21
PBNA (a)	(46)		56		(160)		66





Total (b)	$	(45)	$	62	$	(158)	$	87
After-tax amount	$	(35)	$	48	$	(121)	$	67
Impact on net income attributable to PepsiCo per common share	$	0.03	$	(0.03)	$	0.09	$	(0.05)

(a)Income amounts primarily relate to the change in the fair value of contingent consideration associated with our acquisition of poppi. See Note 8 for further information.