Shareholders of US soft drinks maker PepsiCo and Quaker Oats Co approved this week PepsiCo's acquisition of the maker of Gatorade sports drinks. PepsiCo, the second biggest soft-drink maker, also agreed to sell its All Sport sports drink to Monarch Co for undisclosed terms, the company said in a statement. The acquisition of Quaker Oats, subject to approval from the US Federal Trade Commission, would give PepsiCo a third of the $US 10 billion US market for non-carbonated beverages. Gatorade, the biggest-selling sports drink, is a $US 1.84 billion business, according to analysts. PepsiCo and Quaker Oats expect their transaction to close at the end of the second quarter. The New York-based company agreed to buy Chicago-based Quaker Oats in December for $US 13.5 billion in stock and assumed debt.
