The Story of Frito-Lay, Inc.Make the best product possible; sell it at a fair profit; and make service a fundamental part of doing business.
In September of 1932, a young Texan in San Antonio named Elmer Doolin took an unknown, new food product, and with imagination, ingenuity and perseverance, started an entirely new industry in America. This new product was FRITOS® brand Corn Chips.
That same year another young man started his small enterprising business in Nashville, Tennessee. His name was Herman W. Lay, and he used his 1929 Model A as a delivery truck to distribute potato chips made by an Atlanta, Georgia firm.
Curiously - or perhaps coincidentally - both men needed and borrowed about $100 each to start their respective businesses. From the beginning, both companies were built on the same basic business philosophy:
In September, 1961, just 29 years after the founding of both companies, The Frito Company and H.W. Lay & Company merged to become Frito-Lay, Inc.
With dedicated, trained and experienced employees, a sound business philosophy, and the highest quality products, Frito-Lay, Inc. has become the nation's leading snack food company - and its success is a tribute to the American free enterprise system.
Frito-Lay Company, a division of PepsiCo, is the fastest growing large food company in America. In each of the last three years, it has grown both sales and profits by 12% annually. Frito-Lay's brands are some of the most recognized in the country and include: Doritos, Lay's, Ruffles, Cheetos, Tostitos, SunChips, Grandma's Cookies, Rold Gold, and many others. Frito-Lay's strategic position is strong, with a 60% share of the core salty snack market totaling sales over $13 billion.
PepsiCo has grown 15% a year for the past 30 years, doubling the business every five years. From the original Fortune 500 list published in 1954, PepsiCo's sales have grown faster than all the rest. Frito-Lay accounts for 40% of PepsiCo's profits. Frito-Lay's sales account for over half of the sales of snack chips in the U.S. We sell 8 of the 10 top snack chip brands and today sell 600 pounds of Lay's chips every minute. Frito-Lay holds leading market share in all major snack chip categories. Our 15,000-person sales and distribution system reaches 400,000 retail, vending and foodservice accounts worldwide.
Our flexible benefit program gives you the freedom to choose those benefits that best meet your needs. Flexible benefit options include:
Long-Term Disability Insurance
Group Legal Services
Health Care Reserve Account
Dependent Care Reserve Account
Discount Car Purchase Program
Matching Charitable Contributions