NEW YORK -- Activist investor Nelson Peltz says he wants soda-and-snack food giant PepsiCo to buy Oreo cookie maker Mondelez and jettison its own underperforming beverage unit.

Such a deal would create a global snack food powerhouse, bringing together salty bites such as Cheetos, Doritos and Lay's potato chips with sweet treats such as Cadbury chocolates and Trident gum.

During an interview Wednesday on CNBC, Peltz of Trian Fund Management said he talked about the proposal he called "Plan A" with PepsiCo CEO Indra Nooyi. He said he has a meeting planned with Mondelez CEO Irene Rosenfeld in the next couple of weeks.

"Pepsi right now doesn't love the deals," Peltz conceded. He then urged shareholders to write to the company in support of his proposal.

Under the deal he outlined, PepsiCo would pay $35 to $38 per share for Mondelez.

Mondelez International Inc. shares rose 64 cents, or 2.1 percent, to $30.50 and added another 30 cents in after-hours trading. PepsiCo Inc. shares rose $1.22, or 1.5 percent, to finish at $85.24.

Peltz is known for building stakes in companies then forcing change. In 2008, for example, he led a group of investors in pressuring Cadbury Schweppes to split its candy and its weaker beverage business, which later became Dr Pepper Snapple Group Inc. He was also an active investor in Kraft Foods Group Inc. before its split from Mondelez.

As of March 31, Peltz had a $1.23 billion stake in Mondelez and a $951.8 million stake in PepsiCo, according to a filing with the Securities and Exchange Commission.

Although it's best known for its sodas, PepsiCo is also the world's biggest salty snacks maker. If it were to spin off its beverage unit, analysts have speculated the company would want to gobble up another company to remain as big as it is today.

Even if the Mondelez acquisition weren't to happen, Peltz said his "Plan B" would be to have PepsiCo nevertheless disentangle its promising snacks business from its lackluster soda business. Otherwise, he said that its snacks would always be overshadowed by its drinks, which have perennially trailed Coca-Cola Co.

The proposals by Peltz highlight the pressures PepsiCo has been under to improve results in its beverage unit. The company, based in Purchase, N.Y., has significantly stepped up marketing for its flagship soda. It signed a wide-ranging deal with pop star Beyonce, as well as a multi-year contract to sponsor the Super Bowl. But the efforts have yet to pay off, with sales volume in North America remaining a drag on the company.

"Pepsi is at a crossroads," Peltz said.

In a statement, PepsiCo said it was making "significant progress" against its goals and that it was confident in its ability to deliver value as "an integrated food and beverage company."

The company is set to report second-quarter results next week.

Mondelez meanwhile has struggled as well, after separating from Kraft Foods last October. The company's first few quarters as an independent company have been disappointing and Rosenfeld has admitted that she made some missteps out of the gate. During the CNBC interview, Peltz said he thought Rosenfeld was "running out of time" with investors.

In an aside, Peltz also noted his distaste for the made-up name of Mondelez.

"It sounds like a disease – `suffering from Mondelez'," he said.

Mondelez said in a statement that it looks forward to meeting with Trian Fund Management about its ideas in greater detail.

___

Follow Candice Choi at www.twitter.com/candicechoi

Also on HuffPost:

Loading Slideshow...
  • Mcdonald's - Pizza

    That's right, McDonald's actually once served a <a href="http://www.flickr.com/photos/roadsidepictures/1544645159/">pizza</a>. The company <a href="http://www.nytimes.com/1989/09/20/business/mcdonald-s-hopes-pizza-will-be-the-next-mchit.html">hoped the idea would be its next "McHit</a>" around 1989, according to the New York Times. The item was largely considered a <a href="http://finance.yahoo.com/news/pf_article_113424.html">fail</a>, but that hasn't stopped a <a href="https://www.facebook.com/pages/BRING-MCDONALDS-MINI-PIZZAS-BACK/296327889050">cult following</a> from forming around the dish.

  • Baskin-Robbins - Turkey Cake

    It's a turkey, but it's also a cake, but it's also ice cream? This slightly bizarre specialty item became available in November of 2012.

  • Pizza Hut - Bigfoot Pizza

    The pizza debuted in 1993 and was nearly 2 feet long, according to Doug Terfehr, Director of Public Relations for Pizza Hut. What's not to love about 2 feet of pizza?

  • KFC - Double Down

    The <a href="http://www.flickr.com/photos/nyer82/4522189922/">sandwich</a> is rather simple: just chicken cheese and bacon, sans the bread. But that hasn't stopped over <a href="http://www.huffingtonpost.com/2010/05/20/kfc-double-down-success-s_n_583434.html">10 million people from trying it</a>.

  • McDonald's - Shamrock Shake

    McDonald's first introduced this mint-flavored shake topped with whipped cream and a cherry in 1970. Since then, it has garnered somewhat of a cult following at McDonald's. Despite such popularity, it can still only be purchased during certain times of the year.

  • Taco Bell - Doritos Locos Tacos

    After it busted onto the scene in<a href="http://www.huffingtonpost.com/2013/02/13/cool-ranch-doritos-tacos-release-date_n_2672134.html?1360771758&ncid=txtlnkushpmg00000067"> March of 2012</a>, the Doritos locos taco quickly became the <a href="http://www.huffingtonpost.com/2012/06/05/doritos-locos-most-popular_n_1571160.html">most popular item in Taco Bell history</a>. In February, the fast food chain announced that a <a href="http://www.huffingtonpost.com/2013/02/06/doritos-locos-taco-sales-taco-bell_n_2631552.html">whopping 325 million had been sold</a>.

  • Burger King - Memphis BBQ Sandwich

    The Memphis BBQ sandwich, which hit menus last June, includes Sweet Baby Ray’s Sweet ‘n Spicy BBQ sauce, bringing a bit of country cooking to Burger King's menu. And it may have just inspired other fast food chains, like Carl's Jr and Hardee's, <a href="http://www.huffingtonpost.com/2012/08/21/carls-jr-hardees-bbq-pulled-pork-burger_n_1818619.html">to explore BBQ-themed items as well</a>.

  • Starbucks - Pumpkin Spice Latte

    Every fall, customers begin to crave <a href="http://www.flickr.com/photos/jeffhester/6179580054/">Starbucks' pumpkin spice latte</a>, so much so that the coffee giant struggled with a <a href="http://www.huffingtonpost.com/2012/10/05/pumpkin-spice-latte-shortage-starbucks-limited-supply-high-demand_n_1942289.html">shortage</a> last year due to have demand. (Containers of the syrup sold for as much as $50 on eBay.)

  • Burger King - Cheesy Tots

    The cheesy tots first made their way onto Burger King's menu in 2010, only to disappear later that year. That eventually led to a <a href="https://www.facebook.com/pages/Burger-King-Bring-back-Cheesy-Tots/229469816570">Facebook campaign </a> to bring the tots back, which proved successful when they reappeared last month.

  • McDonald's - McRib

    The barbecue-slathered McRib was such a hit in 1981 that it became a seasonal menu item the next year. The item is so popular, in fact, <a href="http://www.huffingtonpost.com/2013/01/23/mcdonalds-profits-mcrib_n_2532822.html">that it even boosted McDonald's profits at the end of last year</a>.