PepsiCo, Inc. is the world’s second-largest manufacturer of soft and the number-one manufacturer of snack food. The firm consists of four divisions: Frito-Lay North America, PepsiCo Beverages North America (PBNA), PepsiCo International (PI) and Quaker Foods North America (QFNA). The company’s Frito-Lay division manufactures, markets, sells and distributes branded snacks including Lay’s potato chips, Doritos flavored tortilla chips, Cheetos cheese-flavored snacks, Fritos corn chips, Tostitos and Santitas tortilla chips, Ruffles potato chips, Rold Gold pretzels, branded dips, Quaker chewy granola bars, Sunchips multigrain snacks, Munchies snack mix, Grandma’s cookies, Quaker Fruit & Oatmeal bars, Quaker corn and rice cakes, Cracker Jack treats and Go Snacks. PBNA includes Pepsi-Cola North America and Gatorade/Tropicana North America. It manufactures, markets and sells beverage concentrates, fountain syrups and finished goods under the brands Pepsi, Mountain Dew, Sierra Mist, Mug, SoBe, Gatorade, Tropicana, Propel and Dole. This division also manufactures and sells ready-to-drink tea and coffee products through joint ventures with Lipton and Starbucks, and licenses and markets Aquafina water. PI manufactures a number of leading salty and sweet snack brands including Sabritas, Gamesa and Alegro in Mexico, Walkers in the U.K. and Smith’s in Australia. It also manufactures, markets and sells many of the same beverage brands internationally as sold in the U.S. QFNA manufactures, markets and sells cereals, rice, pasta and other branded products, including Quaker oatmeal; Cap’n Crunch and Life ready-to-eat cereals; Rice-A-Roni, Pasta Roni and Near East side dishes; Aunt Jemima mixes and syrups; and Quaker grits. The company's product portfolio includes 16 brands that each generate $1 billion or more in revenues. In February 2005, the company agreed to acquire General Mills' 40.5% ownership interest in Snack Ventures Europe (SVE) for $750 million.