VIETNAM: PepsiCo sells 51% of beverage unit to Suntory
PepsiCo has linked up with Suntory before
Both companies will hold key management positions in the JV, which PepsiCo said will boost sales. PepsiCo will retain marketing and innovation rights for its Vietnamese portfolio, which includes Pepsi, 7-UP, Sting, Lipton and Aquafina.
Financial details behind the tie-up were not disclosed.
It is not the first time the companies have worked together. Suntory holds distribution deals for PepsiCo brands in a number of Asian markets including New Zealand and China.
PepsiCo entered Vietnam in 1994 and has five beverage manufacturing plants in the “high-priority market”, it said.
The deal is subject to the completion of legal processes, PepsiCo said. Its snacks business in the country remains unaffected.
Just over six months ago, PepsiCo garnered quite a few headlines when it launched Pepsi Next in Australia. What caught the industry's eye was that this marked the first time that the company had used ...
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