What company did PepsiCo acquire in 2001 in the deal that brought Gatorade into its portfolio?

PepsiCo acquired the Quaker Oats Company in 2001 in the deal that brought Gatorade into its portfolio.

The acquisition combined PepsiCo’s beverage, snack, and food businesses with Quaker Oats’ packaged-food operations. Its most strategically important asset was Gatorade, which gave PepsiCo a leading position in sports drinks alongside its carbonated soft-drink brands.

The transaction was completed in the first half of 2001 after PepsiCo and Quaker Oats agreed to combine. Quaker’s other brands also broadened PepsiCo’s food portfolio, including products associated with breakfast and packaged meals.

Gatorade is often described as a PepsiCo brand, but PepsiCo did not create it. The drink originated at the University of Florida and had previously been owned by Quaker Oats. The acquisition transferred that established sports-drink business to PepsiCo.