PepsiCo runs the International Dairy and Juice JV with Almarai

PepsiCo runs the International Dairy and Juice JV with Almarai

A PepsiCo joint venture in Egypt is to invest EGY2.5bn (US$375m) to capture a bigger share of the country's dairy-based beverage market.

Beyti, which PepsiCo operates with Saudi Arabia's Almarai as a subsidiary of their International Dairy and Juice JV, will spend the money over the next five years, Almarai said in a release yesterday (22 June). The plan “is aimed at enhancing Beyti’s competitive position in the Egyptian market”, the company said.

The investment “reaffirms (Almarai and PepsiCo's) commitment to the expansion of the Egyptian market”, the release added.

Beyti was established in 1998 and makes a range of dairy products, including UHT milk and yoghurt. Almarai bought the company in 2009 and moved it to its International Dairy and Juice JV with PepsiCo in 2010.