PepsiCo and Suntory to Form New Strategic Beverage Alliance
PepsiCo and Suntory of Japan have agreed to form a strategic alliance in Vietnam. Suntory will acquire a 51% stake in PepsiCo’s Vietnam beverage business, while PepsiCo will retain a 49% shareholding. Suntory and PepsiCo will hold key roles in the management team of the new joint venture, which will serve as the bottler for both companies in Vietnam.
The new alliance is expected to build on PepsiCo’s existing position in Vietnam and to create new growth opportunities for PepsiCo and Suntory in the market. PepsiCo is one of the leading players in Vietnam’s liquid refreshment market. PepsiCo will retain marketing and innovation responsibilities for its portfolio of beverage brands in Vietnam. Suntory brings to the strategic alliance strong brands and a long history of successfully developing beverages for the Asia market.
PepsiCo and Suntory have an established record of successfully working together in other beverage markets, including the US, Japan and New Zealand.
