PepsiCo CEO Indra Nooyi detailed her vision for growth at the start of a two-day investor meeting in New York.

Nooyi said a key priority moving forward is to restore its North American beverage business to sustainable, profitable growth, starting this year.

Regarding higher-growth emerging markets, such as China, India, Russia and Brazil, Nooyi said Pepsi plans to invest aggressively to reach leadership or competitive parity.

On a worldwide level, Nooyi said PepsiCo is targeting mid-single-digit revenue growth and mid-to-high single-digit operating profit growth in its beverage business.

Nooyi said Pepsi plans to build and expand its snack business, especially products that are healthier including nuts and seeds. PepsiCo expects its "nutrition business," which includes Quaker Oats, Tropicana juice, nuts and seeds, to reach $30 billion in sales by 2020, up from about $10 billion now.

Nooyi also said PepsiCo would invest in "breakthrough" drinks, develop new zero-calorie beverages and step up innovation in the area of natural sweeteners.

On the acquisition front, Nooyi said small, tuck-in acquisitions would be more likely. She would be open to further collaboration with other companies, especially on cutting costs or expanding abroad. She said an alliance with Anheuser-Busch InBev to combine back-office and information technology functions was just "the tip of the iceberg."

The company also said it would cut levels of salt, sugar and saturated fats in its top-selling products.

Source: Reuters