No, The Walt Disney Company does not own Frito-Lay. Frito-Lay is a wholly-owned subsidiary of PepsiCo, a relationship that has existed since Frito-Lay merged with the Pepsi-Cola Company in 1965. While you will find Frito-Lay products like Lay's, Doritos, and Cheetos throughout Disney theme parks and resorts, this is the result of a long-standing strategic corporate partnership rather than ownership. PepsiCo is the "Official Beverage and Snack Provider" for Disney, which is why you see Pepsi-owned brands (including Gatorade and Aquafina) in the parks instead of Coca-Cola products. This partnership often extends to co-branded marketing campaigns and "exclusive" snacks found in the parks, but the two companies are entirely separate entities. Disney focuses on entertainment and media, while PepsiCo remains a global leader in the food and beverage industry, managing Frito-Lay as one of its most profitable North American divisions.
No, Disney does not own Frito-Lay.
They are completely separate companies under different corporate umbrellas:
While they are not connected through ownership, they do have a common business relationship:
So, while you might see Disney and Frito-Lay together on a store shelf for a promotion, it’s a partnership—not a matter of ownership.