Who owns Starry Soda? A look at the brand's ownership structure

Who owns Starry Soda? A look at the brand's ownership structure

Starry is a lemon-lime soft drink distributed by PepsiCo and is aimed at competing against Sprite and 7 Up. The new caffeine-free soda offers a crisp, clear burst of lemon-lime flavour and is available in original and Zero Sugar varieties. So, who owns Starry Soda? Here is all about the brand's ownership structure.

Starry soda of PepsiCo company
PepsiCo was formed in 1965 through the merger of Pepsi-Cola and Frito-Lay. Photo: @Food Network (modified by author)
Source: UGC

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PepsiCo replaced Sierra Mist with Starry to compete with Sprite, Coca-Cola's lemon-lime soft drink, which has amassed over 7% of the US soda market. The new caffeine-free lemon-lime-flavoured soda delivers the crisp, refreshing bite consumers have been waiting for. So, who makes Starry soda?

Who owns Starry Soda?

Starry is owned by PepsiCo, Inc., an American multinational food, snack, and beverage corporation headquartered in Harrison, New York. PepsiCo's product portfolio includes many enjoyable foods and beverages and iconic brands, including Pepsi-Cola, Mountain Dew, Doritos, and Starry.

With roots dating back to 1898, PepsiCo Beverages North America is one of the largest beverage companies in North America. The company was formed in 1965 through the merger of Pepsi-Cola and Frito-Lay. Below are the top 10 major institutional shareholders of PepsiCo:

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1. Vanguard Group, Inc.

John Bogle, founder of Vanguard Group
Vanguard has a fairly unique structure for an investment management company. Photo: @Inc. Magazine (modified by author)
Source: UGC

Vanguard Group is one of the world's largest investment companies based in Malvern, Pennsylvania, United States. Founded in 1975, it owns 9.04% of PepsiCo shares and has a strong reputation for providing long-term investment solutions.

2. BlackRock, Inc.

BlackRock headquarters
BlackRock is a global asset manager and technology provider. Photo: @Bloomberg (modified by author)
Source: UGC

BlackRock is an American multinational investment company founded in 1988 and headquartered in New York City. It is one of the world's largest investment, asset management, advisory, and risk management solutions providers.

BlackRock owns 7.84% of PepsiCo’s shares. The company is known for its expertise in active and passive investment strategies.

3. State Street Corporation

State Street Corporation headquarters
State Street Corporation is an American worldwide financial services holding company. Photo: @Finextra (modified by author)
Source: UGC

State Street Corporation is a global financial service and bank holding company headquartered in Boston, Massachusetts, United States. It offers investment servicing, management, research and trading services to institutional investors worldwide.

State Street Corporation owns 4.20% of PepsiCo's shares. Founded in 1792, it is one of the oldest financial institutions in the US.

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4. Geode Capital Management, LLC

Geode Capital logo
Geode Capital Management is a hedge fund manager. Photo: @Geode Capital (modified by author)
Source: UGC

Geode Capital Management, LLC is an American investment management firm based in Boston, Massachusetts. It was founded in 2001 and is a subsidiary of Fidelity Investments. The company owns 2.08% of PepsiCo's shares.

5. Morgan Stanley

Morgan Stanley headquarters
Morgan Stanley is the sixth largest bank in the US in terms of assets. Photo: @Morgan Stanley (modified by author)
Source: UGC

Morgan Stanley is an American multinational investment bank and financial services company headquartered in Manhattan, New York City. Founded in 1935, it helps individuals, institutions, and governments raise, manage, and distribute the capital they need to achieve their goals. The company owns 1.78% of PepsiCo's shares.

6. Bank of America Corporation

Bank of America headquarters
The bank was founded by the merger of Nations Bank and Bank of America in 1998. Photo: @Forage (modified by author)
Source: UGC

Bank of America Corporation is an American multinational investment bank. The financial services holding company was founded in 1998 and is headquartered in Charlotte, North Carolina, United States. Bank of America Corporation owns 1.66% of PepsiCo shares.

7. JPMorgan Chase

JPMorgan Chase Company headquarter
JPMorgan is a leader in investment banking, financial transaction processing and asset management. Photo: @Kenyan Wall Street (modified by author)
Source: UGC

JPMorgan Chase & Company is an American multinational finance company headquartered in New York. It is one of the largest banks in the US and owns 1.53% of PepsiCo shares.

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8. Charles Schwab Investment Management, Inc.

Charles Schwab headquarters
The institution offers services such as consulting and wealth management. Photo: @Wealth Management (modified by author)
Source: UGC

Charles Schwab Investment Management, Inc. is an American investment management company. Some of the services they offer include financial planning, portfolio management, and advisory services. The company owns 1.45% of PepsiCo shares.

9. Northern Trust Corporation

Northern Trust Corporation building
Northern Trust is a global leader in innovative wealth management. Photo: @Wealth Management (modified by author)
Source: UGC

Northern Trust Corporation is an American financial services company. It is headquartered in Chicago, Illinois and is a global leader in asset servicing, innovative wealth management and investment solutions.

10. Norges Bank Investment Management

Norges Bank headquarter
Norges' main responsibilities consist of managing the foreign currency portfolio. Photo: @Wealth Management (modified by author)
Source: UGC

Norges Bank Investment Management is a branch of Norges Bank responsible for managing the government pension fund. Founded in 1998, the company owns 1.13% of PepsiCo shares.

Who is PepsiCo's CEO?

The company's Chief Executive Officer is Ramon L. Laguarta, a native of Barcelona and has served as CEO since 2018 and Chairman of the Board since 2019. He holds an MBA from ESADE Business School in Spain and a Master's in International Management from Thunderbird School of Global Management. Before becoming CEO, Ramon was President of PepsiCo.

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What did Starry replace?

Starry replaced Sierra Mist as it did not compete well with other leading brands, such as Sprite, the longtime leader in the lemon-lime soft drink market. Starry hit the markets in January 2023 with marketing geared towards the young generation. The soda is usually sold in plastic bottles ranging in size from 16 ounces to two litres and in cans in either 7.5-ounce or 12-ounce sizes.

How did Starry replace Sierra Mist?

Sierra Mist was first released by PepsiCo in 1999, and it always played third fiddle to both Sprite and 7UP. It was first made with high fructose corn syrup, then shifted to cane sugar in 2010. In 2014, the soda was added stevia, only to switch back to corn syrup two years later.

Despite all the efforts in formulation and rebranding to beat the competition, Sprite always remained king. In January 2023, the company drastically decided to stop Sierra Mist's production and replace it with Starry.

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Starry replaced Sierra Mist
PepsiCo replaced Sierra Mist with Starry to compete with Sprite, Coca-Cola's lemon-lime soft drink. Photo: @Delish (modified by author)
Source: UGC

Is Starry the same as Sierra Mist?

Their ingredient lists are almost similar, with the only difference being the source of sugar. Starry soda's ingredients include high-fructose corn syrup as a sweetener, unlike Sierra Mist, which was sweetened using cane sugar. Also, Starry has been described as having a more prominent citrus flavour than Sierra Mist.

Is Starry the same as Sprite?

PepsiCo makes Starry, while Coca-Cola makes Sprite, so they are bound to have differences. Sprite has a zesty taste, while starry is slightly sweeter.

What was the former name of Starry Soda?

Starry was initially Sierra Mist. However, a lot was put into rebranding and formulation.

Why did Sierra Mist rebrand to Starry?

Starry was introduced as a soda for a generation of irreverent optimists. PepsiCo also wanted to introduce a brand competing with Sprite and 7UP.

Is Starry Soda selling well?

Starry is doing better than its replacement, Sierra Mist. It has sold more in its first year than Sierra Mist's four years combined.

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The above is everything you would love to know about who owns Starry Soda and the brand's ownership structure. PepsiCo's ownership structure is characterized by a dominance of institutional investors who contribute to the brand's overall worth through their substantial investments.

READ ALSO: What happened to Jolt Cola? Here's why the soda disappeared

Briefly.co.za published an article about Jolt Cola which gained popularity in the pre-internet era and was often marketed as the pioneer and icon for energy-filled lifestyles. It was first introduced in the market in the 1980s and took the beverage industry by storm.

Contrary to the industry's trend toward caffeine-free and sugar-free beverages, Jolt seized the opportunity to introduce 100% sugar and double caffeine content to reach dissatisfied consumers. However, in 2011, the beverage left the market. Discover why the soda disappeared.

Source: Briefly News

Authors:
Bennett Yates avatar

Bennett Yates (Lifestyle writer) Bennett Yates is a content creator with over five years of working experience in journalism and copywriting. He graduated from the University of Nairobi (2017) with a Bachelor's in Information Technology. In 2023, Bennett finished the AFP course on Digital Investigation Techniques. He started working for Briefly in 2019. You can reach him via email at bennetyates@gmail.com.

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