PepsiCo, Inc. is an American multinational food, snack, and beverage corporation headquartered in Harrison, New York, in the hamlet of Purchase. PepsiCo's business encompasses all aspects of the food and beverage market. It oversees the manufacturing, distribution, and marketing of its products. PepsiCo was formed in 1965 with the merger of the Pepsi-Cola Company and Frito-Lay, Inc. PepsiCo has since expanded from its namesake product Pepsi Cola to an immensely diversified range of food and beverage brands. The largest and most recent acquisition was Tropicana Products in 1998 and the Quaker Oats Company in 2001, which added the Gatorade brand to the Pepsi portfolio. As of January 2021, the company possesses 23 brands that have over $1 billion in sales. Pepsico has operations all around the world and its products were distributed across more than 200 countries, resulting in annual net revenues of over $70 billion. Based on net revenue, profit, and market capitalization, PepsiCo is the second-largest food and beverage business in the world, behind Nestl.