PepsiCo, Suntory Announce Strategic Beverage Alliance in Vietnam

PepsiCo

and Suntory Holdings Limited (Suntory) today announced an agreement to form a strategic alliance in Vietnam. Under the terms of the agreement, Suntory will acquire a 51 percent stake in PepsiCo's Vietnam beverage business, while PepsiCo will be a 49 percent shareholder. 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 beverage space, and the alliance is designed to combine the capabilities of both companies in ways that are mutually beneficial to their businesses, customers and consumers. PepsiCo will retain marketing and innovation responsibilities for its portfolio of