PepsiCo, Inc. and Suntory Holdings Ltd. (Suntory), a global beverage and wellness company located in Osaka, Japan, have formed a partnership to strengthen PepsiCo's position in Vietnam.
Suntory will buy 51% of PepsiCo's Vietnam beverage division, while PepsiCo will own 49%. Both firms are expected to play major positions in the management team of the new joint venture.
PepsiCo will market and innovate its Vietnam beverage brands, including Pepsi-Cola, 7-UP, Sting, Mirinda, Tropicana Twister, Lipton, and Aquafina.
Suntory adds strong brands and experience creating Asian beverages to the cooperation. Suntory and PepsiCo have collaborated in the US, Japan, and New Zealand.
Suntory has been actively expanding its business foundation to consolidate its position in growing South-East Asian markets.
This alliance is one of our strategic initiatives for regional growth. PepsiCo, our 30-year partner, has created a dominant position in Vietnam, and Suntory is committed to the Vietnam business.
Vietnam is a highly attractive growth market where PepsiCo is well positioned in the food and beverage marketplace.
Suntory is a world-class corporation and established PepsiCo partner, and we believe their resources will help our Vietnam beverage business succeed.