In 1932, Herman W. Lay began a potato chip business in Nashville, Tennessee. Not long after, he purchased the manufacturer and formed H.W. Lay & Company. In 1961, the company merged with the Frito Company, becoming Frito-Lay Inc.

In 1965, Frito-Lay Inc. merged with Pepsi-Cola to form PepsiCo.

PepsiCo products are enjoyed by consumers more than one billion times a day in more than 200 countries and territories around the world. PepsiCo generated nearly $92 billion in net revenue in 2024, driven by a complementary beverage and convenient foods portfolio that includes Lay’s, Doritos, Cheetos, Gatorade, Pepsi-Cola, Mountain Dew, Quaker, and SodaStream. PepsiCo’s product portfolio includes a wide range of enjoyable foods and beverages, including many iconic brands that generate more than $1 billion each in estimated annual retail sales.