PepsiAmericas has set up a joint venture in Bulgaria
The american beverage company, which initially owns 20% of the joint venture, said that the new arrangements with Agrima will result in PepsiAmericas owning 100% of the joint venture as early as 2012.
The company said that Agrima, which produces, sells and
distributes PepsiCo branded products and other beverages throughout
Bulgaria, will help it gain "a foothold in a growing economy with an
emerging beverage market". Financial details of the transaction were not
disclosed.
PepsiAmericas president and CEO Kenneth Keiser added:
"We are working with the same business partners we had in Romania to
increase scale in this market. Additionally, we intend to increase our
investment over time, with the first option in 2010."
Related news
Related news
Location becomes a competitive factor in e-commerce
As digitalisation and consumer expectations evolve rapidly, logistics and warehousing…
Read more >Gyermelyi is strengthening in exports – adapting to the challenges
Based on the 2024 financial report of Gyermelyi Zrt., it…
Read more >Voluntary Water Donor Program Launches in Budapest
10 million Trees, the Budapest Municipality, the Főkert and the…
Read more >