• The Wall Street Journal, Friday, October 14, 2011 12 AM

PepsiCo Inc. is finalizing a joint venture with German dairy company Theo Müller Group for a new yogurt brand in the U.S. market. "Since forming the Global Nutrition Group to accelerate the growth of our nutrition portfolio, we constantly look at product innovation and partner offerings to help us achieve this mission but prefer not to comment on rumors or speculation about our future plans," PepsiCo said in a statement.

Chief Executive Indra Nooyi has made no secret of the company's ambition to expand in dairy as it aims to more than double its revenue from nutritious drinks and snacks to $30 billion by 2020. Most of its sales remain skewed toward less healthy products. PepsiCo's nutrition strategy involves "snackifying'' beverages and "drinkifying'' snacks and creating products combining fruit, grains and dairy. Already a major global player in fruit juice and oatmeal through its Tropicana and Quaker brands, PepsiCo recently launched a fruit purée in the U.S. that's thick enough to be a snack. It is testing an oatmeal-based drink in Latin America.

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