What company did Frito-Lay merge with in 1965?

Frito-Lay merged with the Pepsi-Cola Company in 1965, creating PepsiCo.

The deal joined two major American consumer brands: Frito-Lay, a leading snack-food maker, and Pepsi-Cola, a major soft-drink company. Shareholders approved the merger on June 8, 1965, and the new corporation was named PepsiCo, Inc. Donald Kendall, then president and chief executive of Pepsi-Cola, became an important leader in the combined business.

The merger was strategically useful because Pepsi-Cola already had an international distribution network. At the time, Pepsi products reached 108 countries, giving Frito-Lay a way to expand its snacks beyond the United States and Canada. Frito-Lay reportedly had 46 manufacturing plants and more than 150 distribution centers in the United States.

A common mix-up is saying that Frito-Lay merged with PepsiCo. PepsiCo did not yet exist: it was the company created by the 1965 merger of Frito-Lay and the Pepsi-Cola Company. Frito-Lay later operated as a wholly owned PepsiCo subsidiary.