Report and Consent of Independent Auditors EXHIBIT 23
The Board of Directors
PepsiCo, Inc.
The audits referred to in our report dated February 4, 1997 included the related
financial statement schedule as of December 28, 1996, and for each of the years
in the three-year period ended December 28, 1996 listed in the accompanying
index at Item 14(a)2. The financial statement schedule is the responsibility of
the Company's management. Our responsibility is to express an opinion on this
financial statement schedule based on our audits. In our opinion, such financial
statement schedule, when considered in relation to the basic consolidated
financial statements taken as a whole, presents fairly, in all material
respects, the information set forth therein.
We consent to the use of our reports included herein (or incorporated herein
by reference) in the following Registration Statements on:
DESCRIPTION REGISTRATION
- ----------- STATEMENT NUMBER
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Form S-3
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Pizza Hut Cincinnati, Inc. and Tri-L Pizza Huts,
Inc. acquisitions 33-37271
PepsiCo SharePower Stock Option Plan for Employees
of Monsieur Henri Wines, Ltd. 33-35601,33-42122,
33-56666 &33-66146
PepsiCo SharePower Stock Option Plan for Opco
Employees 33-30658 & 33-38014
PepsiCo SharePower Stock Option Plan for PCDC
Employees 33-42121
PepsiCo SharePower Stock Option Plan for Employees
of Chevys, Inc. 33-66144
PepsiCo SharePower Stock Option Plan for Employees of
Southern Tier Pizza Hut, Inc. and STPH Delco, Inc. 33-66148
Pepsi-Cola Bottling Company Annapolis acquisition 33-30372
$500,000,000 Euro-Medium-Term Notes 33-8677
$2,500,000,000 Debt Securities and Warrants 33-39283
Semoran Management Corporation acquisition 33-47527
$32,500,000 Puerto Rico Industrial, Medical and
Environmental Pollution Control Facilities
Financing Authority Adjustable Rate Industrial
Revenue Bonds 33-53232
Extension of the PepsiCo SharePower Stock Option
Plan to Employees of Snack Ventures Europe, a
joint venture between PepsiCo Foods International
and General Mills, Inc. 33-50685
$4,587,000,000 Debt Securities and Warrants 33-64243
Form S-4
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Erin Investment Corp. acquisition 33-31844
A&M Food Services, Inc. acquisition 33-4635
Pizza Hut Titusville, Inc. acquisition 33-21607
U.S. Kentucky Fried Chicken operations of Collins
Foods International, Inc. acquisition 33-37978
Pizza Management, Inc. acquisition 33-47314
Form S-8
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PepsiCo SharePower Stock Option Plan 33-35602, 33-29037,
33-42058, 33-51496,
33-54731 & 33-66150
PepsiCo SharePower Stock Option Plan for Opco
Employees 33-43189
1988 Director Stock Plan 33-22970
1979 Incentive Plan and the 1987 Incentive Plan 33-19539
1994 Long-Term Incentive Plan 33-54733
1995 Stock Option Incentive Plan 33-61731 & 333-09363
1979 Incentive Plan 2-65410
PepsiCo, Inc. Long Term Savings Program 2-82645, 33-51514 &
33-60965
Long Term Savings Programs of Taco Bell Corp.,
Pizza Hut, Inc. and Kentucky Fried
Chicken Corporation, respectively 2-93163, 2-99532 &
33-10488
Restaurant Deferred Compensation Plan 333-01377
/s/ KPMG Peat Marwick LLP
New York, New York
March 25, 1997