Speculation is mounting that global drinks giant PepsiCo, Inc. (NasdaqGS:PEP) is about to place its Australian snacks division on the market. Sources say the drinks giant has been looking for advisers around the Australian market to consider options for the business. The speculation also comes with suggestions that the division of a major US-based food company is coming up for sale. The understanding is that some prospective suitors may have already been shown details of what could be on offer. A Pepsi spokeswoman denied plans were afoot for a sale of the local assets. The chatter in the market comes only two years after the then recently appointed chief executive Ramon Laguarta completed a strategic review of the business and said he had no plans to break up the snacks and drinks giant. At that time, there were questions about whether Pepsi would keep its food business, which also sells products such as hummus and Quaker Oats, together with its drinks business, which includes Gatorade, Aquafina and Mountain Dew, the Wall Street Journal had reported. But sources say that a potential sale could be part of a move by Pepsi to retain only global brands within its portfolio and sell off local brands.