just The Facts - Tingyi (Cayman Islands) Holding Corp
In June, Master Kong was labelled the second most valued brand in China
This morning (4 November), PepsiCo announced the sale of its bottling operations in China to Tingyi (Cayman Islands) Holding Corp in exchange for a stake in the noodle and soft drinks maker's business. Here, just-drinks takes a closer look at the China-based company.
- Tingyi (Cayman Island) Holding is a wholly-owned subsidiary of Ting Hsin International Group, controlled by Taiwanese billionaire Wei Ing-Chou. The company produces and distributes instant noodles, soft drinks and snacks under the Master Kong brand.
- The company was listed on the Hong Kong Stock Exchange in 1996. In the six months to the end of June, Tingyi Holding recorded a rise in net profits of 16% to US$229bn. Soft drinks sales increased by 58% year-on-year.
- In June, Master Kong was labelled the second most valued brand in China, after Sony, according to market research firm TNS.
- Tingyi-Asahi, a joint-venture between Tingyi Holdings, Asahi Group and Ting Hsin (Cayman Islands) Holding, sells ready-to-drink tea, bottled water and juices in China. It will become PepsiCo's franchise bottler in China under the new alliance.
- Tingyi Holding will make, sell and distribute PepsiCo's CSD and Gatorade brands through the deal. The company will also co-brand its juice products under the Tropicana brand on licence from PepsiCo.
PepsiCo was never going to win many prizes for its first-quarter showing, but management is keen to show that its mammoth restructuring plan is a case of 'so far, so good'....
Earlier this week, Harris Interactive released its annual study of brand health for beverages in the US....
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