Lay’s and Doritos maker to raise prices on small bags of chips

The company behind snack brands including Lay’s and Doritos said it’s raising prices on some of its smaller chip bags.

PepsiCo — the company behind snack and beverage brands including Pepsi, Lay’s, Doritos, Gatorade and Quaker Oats — said it’s raising prices on some of its smaller chip bags just weeks after executives touted the success of earlier price cuts aimed at winning back cost-conscious shoppers.

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On the company’s earnings call last month, Chief Financial Officer Stephen Schmitt said PepsiCo was “investing in value,” while CEO Ramon Laguarta said lower prices on larger take-home snack bags sold in grocery stores were helping bring shoppers back into the category.

Now, that pricing strategy is being tested.