How soft-drink giant Pepsi lost big when it took on Yoo-hoo

This material may not be published, broadcast, rewritten, or redistributed. ©2026 FOX News Network, LLC. All rights reserved. Quotes displayed in real-time or delayed by at least 15 minutes. Market data provided by Factset. Powered and implemented by FactSet Digital Solutions. Legal Statement. Mutual Fund and ETF data provided by LSEG. Food and Drug Commissioner Dr. Marty Makary weighs in on PepsiCo becoming the latest company to ban artificial dyes from chips as part of the MAHA movement. Yoo-hoo has been a beloved beverage for decades, but for a brief period, Pepsi tried to compete by making its own chocolate drink. Yoo-hoo dates to the 1920s when grocery-store owner Natale Olivieri invented the beverage "as a chocolaty addition to the fruit juices being sold in New Jersey," the company website says. By the 1960s, Yoo-hoo had cemented itself in American culture with baseball Hall of Fame catcher Yogi Berra and his Yankees teammates endorsing it as "the drink of champions." At this point, PepsiCo Inc. decided to get in on the action. Pepsi introduced "Devil Shake" in 1966, reported Tasting Table. According to The New York Times, a $100,000 internal study predicted Devil Shake woul