Desperate to alleviate the adverse financial effects of poor sales and a recent taco-shell recall, franchisees of Tricon Global Restaurants subsidiary Taco Bell have welcomed early “soda rebates” from PepsiCo that are believed to total millions of dollars.
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Taco-Bell is one of PepsiCo’s largest customers with around 4,000 stores throughout the US dispensing only Pepsi-made drinks. In a memorandum issued on 20 December by president Steve S. Reinemund, the soft drink and snacks behemoth was apparently anxious “to help resolve the near-term challenges that you [Taco-Bell franchisees] face.”
Tricon was established as a spin off from PepsiCo in October 1997 and has also established a US$15m “winter relief fund” to help franchisees through the “severe weather issues” of slumping sales and the StarLink debacle.
Confirmation came from one Taco Bell franchisee yesterday (30 January) that his rebate check from Pepsi had been received early.
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