S ARABIA: Almarai mulls PepsiCo JV stake increase
Almarai holds a minority 48% stake in International Dairy & Juice
Almarai has said it is in talks with PepsiCo to increase its stake in the joint-venture it formed with the US soft drinks firm in 2009.
International Dairy & Juice (IDJ), in which Saudi Arabia-based Almarai holds a 48% stake, was formed to target growth opportunities in the dairy and juice sector in Southeast Asia, Africa and the Middle East. However, in a stock exchange announcement today (28 February), Almarai said it is "reviewing" the partnership with PepsiCo and its investment in IDJ.
"Almarai is looking at possibly slightly increasing their ownership of IDJ," the statement said. The firm said that an announcement is expected to be made in March, but added that "discussions are still ongoing".
The flags have been folded away, the medals handed out and the Olympic flag handed to the Mayor of Rio: London 2012 is over and Richard Corbett, like many, enjoyed it. But, did sports drinks producers...
- Is Diageo approaching its "Et tu, Brute" Moment?
- Diageo Q4 & FY - Preview
- Has Diageo added Beer to its 'Non-Core' List?
- SABMiller, Carlsberg, Heineken: Poland's beer itch
- SABMiller's Q1 Sales Performance by Region
- NPD: Tomatin Contrast, Cù Bòcan
- Diageo comm's director latest to leave
- Diageo hit by SEC investigation in US
- Global business development head to quit Diageo
- Diageo, Heineken end South Africa, Namibia JV
- Global rum insights - market forecasts, product innovation and consumer trends research
- Global gin insights - market data, product innovation and consumer trends research
- Global cachaca insights - market data, product innovation and consumer trends research
- Global liqueurs insights - market forecasts, product innovation and consumer trends research
- Global Tequila insights - market forecasts, product innovation and consumer trends research