Word: fritos
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Dates: during 1960-1969
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...Think Young" urged the Pepsi-Cola ad-and Herman W. Lay began thinking. Not about downing a soft drink but about acceding to a hard-to-resist proposal from Pepsi (estimated 1964 sales: $240 million) to merge with his Frito-Lay, Inc., which last year sold $184 million worth of such snacks as corn and potato chips, dip mixes, candied popcorn, pretzels and related products. At 55, Lay isn't so old. But Pepsi President Donald M. Kendall is only 43, and he is surrounded by a youthfully energetic executive team. "I like those fellas," said Lay. "I need...
Last week the two companies that have fattened on the American craving for fizz and chips decided to nibble on that $4.5 billion market together. Unless stockholders or the Justice Department disapprove, Pepsi will swap $213 million worth of its shares for all of Frito-Lay. Herman Lay will be chairman, and President Kendall the chief executive of a new company to be called Pepsi...