Some Highlights of Pepsi History
Some highlights in the history of Pepsi-Cola:
Late 1890s_ Pharmacist Caleb Bradham begins offering a new beverage, soon dubbed ``Brad’s drink,″ at his drug store fountain in New Bern, N.C.
1898_ Bradham changes the drink’s name to Pepsi-Cola.
1902_ Bradham launches the Pepsi-Cola Co. from the back of his pharmacy.
1903_ Bradham awarded the Pepsi-Cola trademark.
1905_ Bradham begins bottling his drink, and later starts awarding franchises.
1923_ Bradham declares bankruptcy, selling the Pepsi trademark and business for $35,000.
1931_ Company goes bankrupt again after changing hands several times.
1931_ Charles Guth, owner of Loft Inc., a chain of East Coast candy stores and soda fountains, buys Pepsi trademark and other assets at bankruptcy sale for about $10,000. Guth has a chemist change the drink formula to his liking.
1934_ Bradham dies at age 67. Guth begins selling 12-ounce bottles of Pepsi for a nickel, twice as much beverage as most other soft drinks.
1940_ Pepsi’s radio jingle ``Twice As Much For A Nickel Too″ debuts and is declared ``immortal″ by Life magazine.
1941_ Loft merges with its Pepsi subsidiary, becoming the Pepsi-Cola Co.
1950_ Alfred Steele, a former Coca-Cola executive, becomes president of Pepsi, named chairman of the board in 1955.
1954_ Steele’s wife, actress Joan Crawford, becomes Pepsi spokeswoman.
1958_ Company introduces ``swirl″ bottle design.
1963_ Diet Pepsi introduced and company focuses marketing on youth.
1965_ Pepsi Cola Co. acquires Frito-Lay, becomes PepsiCo.
1972_ Company announces that Pepsi-Cola is to become the first American consumer product to be produced, marketed and sold in the Soviet Union.
1977_ PepsiCo buys Pizza Hut restaurants.
1978_ PepsiCo buys Taco Bell restaurants.
1984_ Pop singer Michael Jackson hospitalized with second-degree scalp burns after smoke bomb misfires during filming of a Pepsi commercial.
1986_ PepsiCo buys Kentucky Fried Chicken restaurants.
1995_ Company begins U.S. testing of Pepsi XL, sweetened with equal measures of sugar and aspartame.
1996_ PepsiCo sued for failing to deliver $33 million military jet featured in television promotion offering items with the Pepsi logo in exchange for proofs of purchase. A group of investors put up about $700,000 to buy the required 7 million purchase points. Lawsuit is still pending.
1997_ PepsiCo spins off its fast-food restaurant operations into separate company, Tricon Global Restaurants.