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Billionaire investor Nelson Peltz sells $2bn Pepsi stake

Staff writer |
Trian Fund Management, run by billionaire investor Nelson Peltz, had completely sold out of its nearly $2 billion stake, 1+ percent, in Pepsi.

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Trian Fund walked away with a 50 percent return on Peltz's investment, which he first took on in 2012.

"Trian believes PepsiCo has addressed many operational issues identified by Trian — management has increased productivity efforts, reduced overhead, increased advertising investment, and delivered consistent earnings growth on a constant currency basis," Trian said in a statement Friday.

"The market has viewed these developments positively and PepsiCo currently trades at a substantially higher multiple than at the time of Trian's initial investment in late 2012."