Quaker Oats Company and its subsidiaries manufacture and market food and beverage products. The Company is a participant in the competitive packaged food industry in the United States and Canada, and manufactures hot cereals, pancake syrups, grain-based snacks, cornmeal, hominy grits and flavored rice products. Quaker Oats also manufactures and markets its products in many countries throughout Latin America, and broadly diversifies its product line in this region. Within the European and Asia/Pacific foods businesses, the Company broadly diversifies geographically, and primarily market cereals and grain-based snacks. Quaker Oats manufactures and distributes sports beverages in the United States, Canada, Latin