PepsiCo, Unilever to expand Lipton partnership
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- September
- 14
PepsiCo and Unilever have agreed to expand their international partnership for the marketing and distribution of ready-to-drink Lipton tea products, the companies announced yesterday.
The new agreement adds 11 countries to the business, which now includes more than 40 nations: Germany, Italy, France, the Netherlands, Switzerland, Austria, Belgium, Portugal, Korea, Taiwan and South Africa.
“This is a wonderful opportunity to strengthen our position in one of the fastest-growing beverage categories,� said Michael White, chief executive officer of PepsiCo International and vice chairman of PepsiCo, in a written statement.
Ready-to-drink tea has been one of the fastest growing beverage categories, and Lipton is the best-selling brand. The new agreement will more than double the volume of the companies’ joint venture and will position them to capture more growth opportunities, the companies said.
PepsiCo Inc. is based in Purchase, and Unilever PLC is based in London. Each company will continue to own 50 percent of the joint venture, with PepsiCo paying Unilever an undisclosed amount for its share of the businesses in the new markets.
This entry was posted
on Friday, September 14th, 2007 at 4:33 pm by Alison Bert.
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