Pros
This will be a the internship where you learn the most not only about Pepsi, but how the industry works as a whole. You'll spend your first couple of weeks shadowing different parts of the business (operational employees, drivers, upper mgmt, etc) to understand the most you can about the process. From there, you will have about half of the 12 week program to work on your project, which revolves around a certain issue or opportunity. You will create a presentation that will explain your experiences you had, the project you worked on, and when applicable, reccomendations you have towards the problem you're project revolves around.
Cons
The intern experience can be very isolating. I was the only intern at my location, and wasn't around people my own age. This is a very common complaint about the program/full-time in general for campus hires. There are ways around that however. I would advise that if you are an intern, sign up for intern housing at a local college (many schools will have there dorms open for that reason, to house interns that are working in the surrounding area). That way you will be around similar people that you can hang out with.