Two weeks after PepsiCo’s board of directors roundly rejected a proposal from Peltz’s Trian Fund Management, in which the investment firm repeated its call for the cola giant to split its snack and beverage divisions into two separate companies, Trian yesterday sent a letter to PepsiCo’s board calling into question the credibility of company management and asking it to provide shareholders with analytical support for its continued reliance on the “Power of One” strategy.

Having carved out distribution in over 500 retailers in the New York metro market, Frava, a line of naturally caffeinated juice drinks, is making its way to middle America, and, later this year, into one of the largest mass retail chains in the country.

When news broke last week of the merger between Safeway and Cerberus Capital Management, the investor group that controls Albertsons, the beverage industry could sense the ripple effects. Among those who were paying attention, the industry’s many tiers understood that the news would significantly alter the retailer landscape in the U.S. However, few reactions had a tone as fatal as that of Jia Lynn Yang, reporter for The Washington Post.

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