Who supplies PepsiCo? Mapping 206 suppliers and partners with receipts
PepsiCo's supply base researched from its 10-K, the supplier lists it publishes, import records, press releases and trade press: 206 suppliers and partners across 36 countries, and how each one is sourced.
rejo research ·
Ask a terminal who supplies PepsiCo and you get a short list of listed companies. The real supply base of a global food and beverage company is hundreds of ingredient processors, packaging converters, mills, co-packers, bottlers and logistics firms, most of them private and many outside the United States.
rejo's research agent mapped it from five kinds of sources: the annual report; the supplier lists PepsiCo publishes itself (palm-oil, fibre and refinery suppliers); public import records; press releases and contract announcements; and trade press. The result: 206 suppliers and partners across 36 countries.
What PepsiCo buys
| Category | Suppliers and partners |
|---|---|
| Packaging | 102 |
| Raw materials & ingredients | 77 |
| Licensing & IP | 10 |
| Co-manufacturing | 9 |
| Customers | 3 |
| Energy & utilities | 2 |
| Logistics & distribution | 2 |
| Equipment & technology | 1 |
Packaging and raw materials dominate: fibre and corrugated converters, aluminium can and PET suppliers, palm-oil refiners and mills, and ingredient processors. Co-manufacturing (bottlers and co-packers) and licensing relationships (brands PepsiCo distributes or licenses) make up the rest.
Where the supply base is
Among suppliers with a known country: United States (25), China (16), Indonesia (10), India (8), Spain (7), United Kingdom (6), Ireland (5). The palm-oil chain runs largely through Indonesia and Malaysia; fibre and packaging through the US, China, India and Europe.
Who buys from PepsiCo
The 10-K names Walmart (with Sam's Club) as the largest customer at about 14% of consolidated net revenue. PepsiCo is also the exclusive beverage supplier to restaurant chains under long-term contracts, and distributes partner brands such as Celsius and certain Keurig Dr Pepper brands in some markets.
How sure are we?
Of the 206 relationships, 36 are verified: rejo opened the cited page itself and found the supplier named next to PepsiCo or a supply term. Most of the rest are cited: PepsiCo's own supplier lists sit behind a bot filter that refuses automated access, and rejo does not bypass that. Those suppliers were read through a search tool and are shown as cited but not opened, never as verified, and they are not used in calculations.
That distinction is the point. Every relationship carries its receipt, so an analyst can see why it is there and decide how much weight to give it.
Why it matters
- Read-across: a supplier's warning, a mill's grievance case or a packaging price increase reaches PepsiCo and its peers through these links.
- Shared suppliers: many of the same processors and converters supply Coca-Cola, Mondelez, Hershey and General Mills, a concentration that matters for anyone long or short the group.
- Diligence: sustainability, tariff and sourcing questions start from knowing who the suppliers actually are.