Pepsi did not buy the entire 7UP brand, but they acquired the international soft drink business of 7UP in 1986.
Here's a breakdown:
- What happened? In July 1986, PepsiCo Inc. purchased the international operations of the Seven-Up Company from Philip Morris Companies for $246 million.
- What did Pepsi acquire? This purchase specifically included 7UP's international soft drink business, not the complete 7UP brand globally.
- Why did they do it? The acquisition was a strategic move for Pepsi to expand its international presence and compete more effectively with Coca-Cola, which already had a larger global footprint.
In summary, PepsiCo acquired the international rights to 7UP, not the entire company.
