EXHIBIT 23(F)

                        CONSENT OF GOLDMAN, SACHS & CO.

PERSONAL AND CONFIDENTIAL

March 13, 2001

Board of Directors
The Quaker Oats Company
321 North Clark Street
Chicago, IL 60610

Re:  Amendment No. 1 to Registration Statement (File No. 333-53436) of
     PepsiCo, Inc.

Ladies and Gentlemen:

    Reference is made to our opinion letter dated December 2, 2000 with respect
to the fairness from a financial point of view to the holders (other than
PepsiCo (as defined below)) of the outstanding shares of Common Stock, par value
$5.00 per share, of The Quaker Oats Company (the "Company") of the Exchange
Ratio (as defined therein) pursuant to the Agreement and Plan of Merger, dated
as of December 2, 2000, among PepsiCo, Inc. ("PepsiCo"), BeverageCo, Inc., a
direct wholly-owned subsidiary of PepsiCo, and the Company.

    The foregoing opinion letter is provided for the information and assistance
of the Board of Directors of the Company in connection with its consideration of
the transaction contemplated therein and is not to be used, circulated, quoted
or otherwise referred to for any other purpose, nor is it to be filed with,
included in or referred to in whole or in part in any registration statement,
proxy statement or any other document, except in accordance with our prior
written consent. We understand that the Company has determined to include our
opinion in the above-referenced Registration Statement.

    In that regard, we hereby consent to the reference to the opinion of our
Firm under the captions "Summary--Opinions of Financial Advisors", "The
Merger--Background of the Merger", "The Merger--Factors Considered by, and
Recommendation of, the Quaker Board", "Opinions of Financial Advisors--Opinions
of Quaker's Financial Advisors--Opinion of Goldman, Sachs & Co." and to the
inclusion of the foregoing opinion in the Joint Proxy Statement/Prospectus
included in the above-mentioned Registration Statement, as amended. In giving
such consent, we do not thereby admit that we come within the category of
persons whose consent is required under Section 7 of the Securities Act of 1933
or the rules and regulations of the Securities and Exchange Commission
thereunder.

Very truly yours,

/s/ GOLDMAN, SACHS & CO.
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GOLDMAN, SACHS & CO.