The two companies said that a change of strategy at both groups had prompted the decision to terminate the venture.
US: PepsiCo abandons joint venture with Novartis
Food and drinks combine, PepsiCo, has dissolved its joint venture with the Swiss pharmaceutical group, Novartis AG. The 50/50 joint venture between PepsiCo subsidiary, Quaker Foods, and Novartis, called Altus Food Co, was formed two years ago to develop cholesterol-reducing cereals and other products such as snack bars and smoothies with health benefits.