Direct Defence Contracting & Procurement
Walkers is a PepsiCo UK snack brand, rather than the separate Walkers Shortbread business. 1
PepsiCo’s FY2024 and FY2025 subsidiary schedules list Walkers Group Limited, Walkers Snack Foods Limited, Walkers Snacks (Distribution) Limited, and Walkers Snacks Limited. 2, 3
Walkers Snacks Limited is active and its Companies House register records PepsiCo Holdings as its registered person with significant control, holding more than 75% of shares and voting rights and possessing director-appointment and removal rights. 4, 5
Walkers Snack Foods Limited is active, and its Companies House register likewise records PepsiCo Holdings as its registered person with significant control with the same disclosed control characteristics. 6, 7
Walkers Snacks (Distribution) Limited is active. Its current corporate PSC entries are Bronte Industries, Ltd and Springboig Industries, Ltd, each notified on 18 March 2025; the register records PepsiCo Holdings as ceasing to be a PSC on that date. 8, 9, 10
Walkers Group Limited is active and registered with a SIC classification of manufacture of other food products not elsewhere classified. 11, 12
The reviewed SIBAT Eurosatory 2022 exhibitor catalogue does not identify Walkers or PepsiCo, and no Walkers, PepsiCo, or SodaStream entry was identified in the reviewed current SIBAT defence directory. 13, 14
IMOD describes its Defense Procurement Directorate as the central body procuring services and equipment for IDF requirements. 15 IMOD also operates vendor-registration and tender-search portals, but the reviewed public tender interface indicates that detailed tender information requires login. 16, 17
No public evidence identified in the reviewed public materials of a contract, tender award, framework agreement, memorandum, supplier registration, or other procurement record connecting Walkers, PepsiCo, SodaStream, or the documented Tapuchips consumer-food licence to IMOD, the IDF, Israel Prison Service, Border Police, or another Israeli security body. 13, 14, 15, 16, 17
This conclusion is limited to publicly retrievable records reviewed; restricted tender-detail access means it is not definitive proof that no procurement exists. 16, 17
The current Companies House officer records identify Samuel Richard Barnes, Bunyamin Bayraktar, Robert Talbot Bland, Victoria Elizabeth Evans, Bethan Mair Price, and Jason Richards as current directors of Walkers Snacks Limited, with Prateek Jain as secretary; Barnes, Bayraktar, and Bland also appear as current directors of Walkers Snacks (Distribution) Limited. 18, 19
PepsiCo’s FY2025 Form 10-K identifies Ramon L. Laguarta as Chairman and Chief Executive Officer and Silviu Popovici as CEO, Europe, Middle East and Africa, with Popovici’s appointment effective January 2025. 3
PepsiCo’s 2026 proxy identifies executive officers including Laguarta, Stephen Schmitt, Steven Williams, Popovici, Rebecca Schmitt, and James Caulfield, and identifies directors including Segun Agbaje, Jennifer Bailey, Cesar Conde, Ian Cook, Edith Cooper, Susan Diamond, Dina Dublon, Michelle Gass, Sir Dave Lewis, David Page, Robert Pohlad, Daniel Vasella, Darren Walker, and Alberto Weisser. 20
PepsiCo’s 2025 proxy identifies Vanguard and BlackRock as beneficial owners above 5% as of that proxy’s record date, while not identifying an individual shareholder owning 10% or more; those holdings alone do not establish operational control. 21
No public evidence identified in the entity-focused corporate and Companies House records of a defence-company board role, controlled entity, or physical-goods contract with the IDF, IMOD, Israel Prison Service, Border Police, or an Israeli defence prime for the disclosed local Walkers officers, PepsiCo leadership, or disclosed institutional owners. 4, 21, 3, 5, 6, 7, 8, 9, 10, 11, 12, 18, 19, 20 This is not a person-by-person defence-role clearance: the reviewed materials did not complete targeted individual searches of defence directorships, controlled entities, procurement, philanthropy, political contributions, reservist-fund support, or public statements. 21, 20
Dual-Use Products & Tactical Variants
No public evidence identified of a ruggedised, tactical, mil-spec, defence-grade, or contract-modified Walkers, PepsiCo, or SodaStream product line for Israeli military or security end users. 13, 14, 15, 16, 17
The documented Israel-facing Walkers arrangement is a 2021 report that Lay’s-PepsiCo licensed Tapuchips, a Strauss food-company subsidiary, to produce a local Walkers salt-and-vinegar crisp product; the report describes consumer-snack production rather than a military or security end use. 22
No public evidence identified of export-licence applications, end-user certificates, export-control decisions, or security-force sales concerning Walkers, PepsiCo, or SodaStream products for Israeli military or security end users. 9, 14, 15, 16, 17
The current status and precise contractual chain of the 2021 Tapuchips licence are unknown from the reviewed material. 22
Heavy Machinery, Construction & Infrastructure
PepsiCo completed its acquisition of SodaStream International Ltd. on 5 December 2018. 23
Before PepsiCo’s acquisition, SodaStream operated a factory in Mishor Adumim, an industrial zone adjacent to Maale Adumim in the occupied West Bank. 24
SodaStream announced in October 2014 that it planned to relocate the factory to Lehavim, and reporting from May 2015 stated that the final assembly lines had moved and Mishor Adumim production had ceased. 24, 25
This factory relationship therefore ended before PepsiCo’s 2018 acquisition and does not establish a Walkers operational, contractual, or supply-chain connection to the site. 23, 25
PepsiCo’s FY2025 subsidiary schedule lists VentureCo (Israel) Ltd, SodaStream Industries Ltd, SodaStream International Ltd, and SodaStream Israel Ltd as Israeli-incorporated subsidiaries; the schedule establishes subsidiary status only and does not establish an operational or supply-chain relationship between those entities and the Walkers businesses. 3
PepsiCo’s 2025 Annual Report identifies an owned “IB Franchise” manufacturing plant in Lehavim, Israel. 26 The 2018 SodaStream merger agreement required PepsiCo, subject to stated adjustments, to maintain SodaStream’s Lehavim manufacturing facility for at least 15 years after the merger’s effectiveness with a substantially similar scope of operations and sufficient staffing. 27 These records verify continuing PepsiCo-owned civilian manufacturing in Lehavim through the 2025 reporting year, but do not identify Walkers as connected to the plant or establish military contracting, settlement activity, product customers, or end users. 26, 27
No public evidence identified that Walkers products, equipment, vehicles, or operations were used in settlement construction, the separation barrier, checkpoints, military installations, demolitions, or other occupied-territory infrastructure. 23, 24, 25, 26, 27
Supply Chain Integration with Defence Primes
No public evidence identified that Walkers, PepsiCo, SodaStream, or the Tapuchips consumer-food licence supplies components, manufacturing services, raw materials, specialist services, or technology to Elbit Systems, Israel Aerospace Industries, Rafael, IMI/Elbit Land, or another Israeli defence prime. 13, 22, 14, 15, 16, 17
No public evidence identified of joint development, co-production, technology transfer, licensed military manufacturing, or a defence-prime supply relationship involving Walkers, PepsiCo, SodaStream, or Tapuchips. 13, 22, 14, 15, 16, 17
The Tapuchips/Strauss licence concerns a civilian snack-brand arrangement and is not evidence of supply to a defence manufacturer. 22
Logistical Sustainment & Base Services
The IDF describes its Food Array as responsible for procurement, storage, distribution, and food-service operations across military facilities. 28
The reviewed IDF Food Array material does not name Walkers, PepsiCo, or SodaStream as a supplier. 28
The Israeli Government’s supplier-database page describes the statutory procurement framework, but the reviewed material does not provide a record naming Walkers, PepsiCo, or SodaStream. 29
No public evidence identified of Walkers or PepsiCo contracts for IDF catering, rations, transport, fuel, facilities services, freight, port handling, or logistics serving military installations in the West Bank, East Jerusalem, Golan Heights, Negev, or elsewhere. 28, 15, 16, 17, 29
No public evidence identified in the reviewed tender, procurement, company-register, and credible-reporting materials of a physical military, prison, security, catering, logistics, fuel, vehicle, equipment, or infrastructure relationship attributable to Walkers, PepsiCo, SodaStream, Tapuchips, or entities they control. 13, 28, 3, 15, 16, 17, 29 The company-register materials establish legal control and officeholding only, and do not themselves confirm or disconfirm a military-channel relationship. 4, 5, 6, 7, 8, 9, 10, 11, 12, 18, 19
Munitions, Weapons Systems & Strategic Platforms
No public evidence identified of Walkers, PepsiCo, or SodaStream manufacturing, integrating, maintaining, or supplying weapons, munitions, explosive or propellant materials, military platforms, missile-defence systems, kinetic military AI or software, or critical military sub-systems for Israeli forces. 13, 14, 15, 16, 17
Export Licensing, Regulatory & Legal History
No public evidence identified of export-licence grants, denials, suspensions, revocations, sanctions or arms-embargo enforcement, or court proceedings concerning a Walkers, PepsiCo, or SodaStream defence-supply relationship with Israeli military or security end users. 9, 14, 15, 16, 17
SIBAT’s public tender page concerns disposal or sale of controlled defence equipment rather than procurement from Walkers or PepsiCo, and no target-related tender was identified in the reviewed materials. 30
Civil Society Scrutiny & Documented Investigations
The supplied document-scoped pre-scan found no Walkers mention in the cited UN Special Rapporteur report, and that result does not establish absence from the broader UN or civil-society record. 31
The supplied document-scoped pre-scan likewise found no Walkers mention in the cited 2023 and 2025 OHCHR settlement-database iterations; these results are document-scoped and do not establish absence from the broader civil-society record. 32, 33
No public evidence identified in the reviewed material of an NGO or academic investigation alleging a Walkers-specific military, security, weapons, or dual-use supply relationship with Israel. 31, 32, 33
No public evidence identified of a Walkers-specific boycott or divestment campaign grounded in defence-sector conduct, or of a Walkers corporate response to such an allegation. 31, 32, 33
Footnotes
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https://investor.pepsico.com/docs/pepsico-5v9wci20/media/Files/investors/q4-2024-form-10k.pdf ↩
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https://investors.pepsico.com/docs/pepsico-5v9wci20/media/Files/investors/q4-2025-form-10k.pdf ↩ ↩2 ↩3 ↩4 ↩5
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https://find-and-update.company-information.service.gov.uk/company/03474989/persons-with-significant-control ↩ ↩2 ↩3
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https://find-and-update.company-information.service.gov.uk/company/03474989 ↩ ↩2 ↩3
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https://find-and-update.company-information.service.gov.uk/company/02333074 ↩ ↩2 ↩3
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https://find-and-update.company-information.service.gov.uk/company/02333074/persons-with-significant-control ↩ ↩2 ↩3
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https://find-and-update.company-information.service.gov.uk/company/03566410 ↩ ↩2 ↩3
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https://find-and-update.company-information.service.gov.uk/company/03566410/persons-with-significant-control ↩ ↩2 ↩3 ↩4 ↩5
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https://find-and-update.company-information.service.gov.uk/company/03566410/filing-history ↩ ↩2 ↩3
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https://find-and-update.company-information.service.gov.uk/company/04023090 ↩ ↩2 ↩3
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https://find-and-update.company-information.service.gov.uk/company/04023090/officers ↩ ↩2 ↩3
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https://www.sibat.mod.gov.il/Exhibitions/SeoulAdex/Documents/ISRAEL%20at%20EUROSATORY%202022.pdf ↩ ↩2 ↩3 ↩4 ↩5 ↩6 ↩7
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https://www.mod.gov.il/media/otaeo2yv/%D7%9E%D7%93%D7%A8%D7%99%D7%9A-%D7%94%D7%99%D7%A6%D7%95%D7%90_250811_080922-1-_compressed.pdf ↩ ↩2 ↩3 ↩4 ↩5 ↩6 ↩7 ↩8
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https://www.mod.gov.il/en/departments/defense-procurement-directorate-dpd ↩ ↩2 ↩3 ↩4 ↩5 ↩6 ↩7 ↩8 ↩9 ↩10
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https://www.online.mod.gov.il/ENG/pages/General/Info/start.aspx ↩ ↩2 ↩3 ↩4 ↩5 ↩6 ↩7 ↩8 ↩9 ↩10 ↩11
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https://www.online.mod.gov.il/Online2016/pages/general/Balam/BalamList.aspx?bk=1 ↩ ↩2 ↩3 ↩4 ↩5 ↩6 ↩7 ↩8 ↩9 ↩10 ↩11
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https://find-and-update.company-information.service.gov.uk/company/03474989/officers ↩ ↩2 ↩3
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https://find-and-update.company-information.service.gov.uk/company/03566410/officers ↩ ↩2 ↩3
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https://www.sec.gov/Archives/edgar/data/77476/000130817926000169/pep015012_def14a.htm ↩ ↩2 ↩3
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https://www.pepsico.com/docs/pepsico-5v9wci20/media/Files/investors/2025-pepsico-proxy-statement.pdf ↩ ↩2 ↩3
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https://www.thejc.com/news/world/its-crunch-time-salt-and-vinegar-crisps-come-to-israel-vb7jw32a ↩ ↩2 ↩3 ↩4 ↩5
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https://www.pepsico.com/newsroom/press-releases/2018/pepsico-completes-acquisition-of-sodastream-international-ltd ↩ ↩2 ↩3
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https://www.theguardian.com/business/2014/oct/29/sodastream-move-factory-west-bank-israel-slash-forecast ↩ ↩2 ↩3
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https://en.globes.co.il/en/article-sodastream-west-bank-exit-ahead-of-schedule-1001034373 ↩ ↩2 ↩3
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https://www.pepsico.com/docs/pepsico-5v9wci20/media/Files/investors/pepsico-2025-annual-report.pdf ↩ ↩2 ↩3
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https://www.sec.gov/Archives/edgar/data/1502916/000114420418049220/tv502666_ex99-1.htm ↩ ↩2 ↩3
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https://www.idf.il/%D7%90%D7%AA%D7%A8%D7%99-%D7%99%D7%97%D7%99%D7%93%D7%95%D7%AA/%D7%9E%D7%A2%D7%A8%D7%9A-%D7%94%D7%9E%D7%96%D7%95%D7%9F/ ↩ ↩2 ↩3 ↩4