PepsiCo is splitting its Frito-Lay International snacks business into two companies. One will cover Europe, the Middle East and Africa; the other Latin America, Asia Pacific and Australia. PepsiCo head Steven Reinemund said the move would unleash "enormous potential". Europe/ Africa/Middle East produces annual sales of $2.4bn from 17 countries including Walkers in the UK. The news came as PepsiCo unveiled an 11% rise in pretax profit to $2,721m last year. Group sales were up 6% to $18.7bn. {{NEWS }}

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