U.S. Calls Off Antitrust Probe of Frito-Lay

PepsiCo Inc.’s Frito-Lay division said it will not face a U.S. challenge to its business practices now that the Justice Department has closed its antitrust investigation of the salty snack-foods industry. The Justice Department recently ended the 2 1/2-year-long probe of alleged anti-competitive practices in the snack-food industry, which is dominated by Frito-Lay. The investigation involved allegations that Frito-Lay, the world’s largest maker of salty snacks, used exceptionally low prices and other tactics to drive competitors’ potato chips, pretzels and other salty snacks off supermarket shelves, according to industry officials. PepsiCo’s stock fell 6 cents to close at $39.56 on the NYSE.