PepsiCo has announced plans to cut up to 20% of its product lineup in a deal with activist investor Elliott Investment Management. This follows a trend from Coca-Cola, which implemented a similar culling of its brands in 2020. The company plans to offer a portfolio of approximately 200 master brands, an approximately 50% reduction from the current number, and phase out some products. However, PepsiCo did not specify which brands would be retired. The news was discovered by a leading digital food reporter, SnackWithZach, who shared products believed to be on the chopping block, many under PepsiCo’s Frito-Lay banner.