PepsiCo is an American multinational food and beverage corporation headquartered in Purchase, New York. It was formed in 1965 through the merger of Pepsi-Cola Company and Frito-Lay. PepsiCo owns 22 brands that generate over $1 billion in annual retail sales each. It operates in over 200 countries and has annual revenues of $43.3 billion, making it the second largest food and beverage business in the world. PepsiCo's portfolio includes Frito-Lay snacks, Gatorade sports drinks, Quaker foods, and brands in the beverage industry such as Pepsi, Mountain Dew, and Aquafina.