This investigation is being conducted under the Robinson-Patman Act, which prevents large franchises and chains from engaging in price discrimination against small businesses.
The FTC has reportedly reached out to large retailers for data and other information about their purchasing and pricing of soft drinks. Walmart is not currently a target of the investigation, according to sources.
None of the involved parties, including FTC, Coca-Cola, Pepsi, and Walmart, have publicly commented on the investigation.