Make Your Green Mark. Pepsi Pepsi Cola is a non-alcoholic carbonated beverage produced and manufactured by PepsiCo. It is sold in stores, restaurants and from vending machines. Pepsi Light is a diet flavored Pepsi sold in other countries besides the United States similar to Diet Peps. In late 2008, Pepsi overhauled their entire brand, simultaneously introducing a new logo and a minimalist label design. The redesign was comparable to Coca-Cola's earlier simplification of their can and bottle designs.