Pepsico has surpassed Coca-Cola Co. in market capitalization for the first time ever, a dramatic turnaround from just five years ago when Coke was worth nearly three times as much as its rival. A Pepsico spokesman said the company has a healthy respect for Coca-Cola and has no plans to rest on its laurels. Coke spokesman Ben Deutsch said, "Our focus remains on delivering sustainable growth, maintaining the strong underlying financial health of our business and delivering great marketing to support our brands."

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