Food & Beverage
Food and beverage companies own some of the most durable brands ever created. Consumers have emotional attachments to food brands built over decades. Pricing power is extraordinary — people will pay more for their favourite chocolate or drink even in tough times.
The most recognised brand in the world. Sells in 200+ countries through a vast bottling network. Coca-Cola itself owns the brand and recipe — one of the widest economic moats in business. Warren Buffett has held shares since 1988.
Owns Pepsi, Lay's, Gatorade, Doritos, Cheetos, and Quaker. Its snack business is remarkably resilient — people keep buying chips regardless of economic conditions. Operates in nearly every country and generates billions in free cash flow annually.
Makes Oreo, Cadbury, Milka, Toblerone, Ritz, and Trident. Focused almost exclusively on snacks — no beverages or savoury meals. Global snack demand is rising, especially in emerging markets where a growing middle class discovers branded treats.
The dominant chocolate brand in the US with over 45% market share. Owns Reese's, KitKat (US rights), Jolly Rancher, and SkinnyPop. Chocolate is an affordable luxury that holds up remarkably well even when consumers cut back elsewhere.
Owns KFC, Pizza Hut, and Taco Bell — three of the five largest fast food chains in the world. Franchises almost everything, so it collects royalties with minimal operating risk. Has enormous exposure to fast-growing emerging markets via KFC.
Scores 10/10 for Coffee Retail.
Scores 10/10 for Energy Drinks.
Scores 10/10 for Fast Casual Dining.
Scores 9/10 for Fast Casual Dining. Also relevant to Digital Ordering.
Scores 9/10 for Food Delivery.
Scores 9/10 for Fast Food Franchising. Also relevant to Digital Ordering and Food Delivery.
Scores 9/10 for Energy Drinks.
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