Tuesday, December 18, 2018
 PepsiCo Sees Growth in Snacks and Dairy  
PepsiCo Inc sees opportunities for dairy products and snacks to help it weather the economic slowdown that is hammering its domestic beverage business. Pepsi said recently that it formed a joint venture with Saudi Arabia's Almarai Co, the Gulf's largest dairy company by market value, to invest in dairy and juice processors in Southeast Asia, Africa and the Middle East. The venture will be called International Dairy and Juice Ltd and will be 52 per cent held by PepsiCo.

Richard Goodman, chief financial officer, PepsiCo, said, "Dairy is an important category. We are excited. We had an opportunity to do something that was unusual." At present, the company's business includes drinks like Pepsi, Gatorade, Tropicana and SoBe Lifewater and foods including Frito-Lay snacks and Quaker oatmeal. Volume in the North American beverage business fell six per cent in the fourth quarter, as recession has made consumers more frugal.

Source: Alibaba

Posted on Wednesday, April 22, 2009 (Archive on Wednesday, April 29, 2009)
Posted by bsutton@adpi.org  Contributed by bsutton@adpi.org