PepsiCo looks to up its 41.56% stake in Serm Suk

PepsiCo looks to up its 41.56% stake in Serm Suk

PepsiCo has announced plans to acquire its Thai bottling firm, Serm Suk, according to reports.

Strategic Beverages (Thailand) Co, a joint venture between PepsiCo and two of its senior executives, is looking to up its 41.56% stake in the firm through a general tender offer for the bottler’s share, KamCity reported yesterday (22 April).

The firm will also look to invest up to THB7bn (US$217m) over the next three to five years on expanding its beverage business, the publication said.

It is understood the offer price will be THB29 per share.

No-one at PepsiCo was available to provide further clarification on the report when contacted by just-drinks this week.

Yesterday, PepsiCo reported an increase in net profits for its first quarter, driven by volume gains in its worldwide snacks and international beverage divisions. The firm said its “solid” performance in beverages was supported by the benefits of the acquisition of its two largest bottlers.