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Frito Lays Inc. Essay Preview: Frito Lays Inc. Report this essay Case Study 2 (Frito-Lay Inc) Frito-Lay Inc is a division of PepsiCo, Inc. which manufactures markets and sells a variety of corn chips, potato chips and other snack foods. The companys current form is the result of a merger (1965) of Frito-Lay, Inc. and.