- PepsiCo purchases an equity interest in California Pizza Kitchen. It is sold in
- Pepsi-Cola introduces new "Gotta Have It" advertising theme and launches the "Gotta
Have It" card.
- Frito-Lay and General Mills agree to merge snack food businesses in Europe.
- Frito-Lay introduces reformulation of Doritos brand Nacho Cheesier flavored tortilla
- Frito-Lay presents network Lay's/Ruffles advertising -- the first in 10 years.
- Frito-Lay enlists George Foreman for Doritos advertising.
- Pepsi introduces new slogan "Be Young - Have Fun - Drink Pepsi."
- Pepsi-Cola begins distribution of Lipton's line of ready-to-drink teas nationwide.