Peltz renews attempt to break up PepsiCo

|About: PepsiCo Inc. (PEP)|By:, SA News Editor

Nelson Peltz has sent a 37-page letter to PepsiCo's (PEP) board renewing his call for the company to spin off its struggling beverage business, which has been battling falling soda sales in developed markets, and focus on snack brands Lays, Cheetos and Doritos.

The letter comes less than a week after PepsiCo ruled out a break-up following a review.

Peltz, whose Trian Fund Management firm owns $1.2B in PepsiCo, plans to start meeting with shareholders and could conduct public investor forums.