PepsiCo extends Taco Bell beverage deal to 2036 after losing KFC
PepsiCo shares rose about 2% after an 11-year renewal with Taco Bell, following KFC's switch to Coca-Cola in the U.S., per Stocktwits.
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what happened
According to Stocktwits, PepsiCo shares traded about 2% higher on Thursday after the company announced an 11-year renewal of its U.S. partnership with Taco Bell, now running through 2036. The news came roughly a week after KFC chose Coca-Cola as its U.S. beverage partner, ending a relationship of nearly 40 years with PepsiCo.
Under the renewed agreement, PepsiCo drinks will remain available at Taco Bell locations, and the companies plan to focus on energy and functional beverages aimed at Gen Z. Bank of America analysts estimated the KFC loss at about $500 million in annual PepsiCo sales, roughly 3% of Pepsi Beverages North America concentrate sales.
why it matters
For investors, the deal partly offsets the KFC loss by keeping a major restaurant partner in place. Yum Brands, which owns both chains, was less directly affected. The renewal does not by itself change the broader outlook for PepsiCo.
market impact
PepsiCo: keeping a large restaurant contract reduces concern after the KFC loss
tags
instruments
sources
- PEP Stock Gains After PepsiCo Locks In 11 More Years With Taco Bell Following KFC Loss To Coke — Stocktwits, 22 October 2026 at 18:15 UTC
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