PepsiCo Inc. views Mexico as one of its key growth markets and expects to invest up to $3 billion in the country over the next several years.
The Purchase-based beverage and snack food giant said that two-thirds of that investment will fund research and development, manufacturing, distribution, marketing and advertising for the company’s Mexican food businesses during the next five years.
The rest of the investment will support marketing and advertising for Pepsi beverages.
“For the last 100 years, Mexico has been a key market for PepsiCo, and today’s news is the latest proof that we will continue to invest for growth here,” PepsiCo Americas Foods CEO John C. Compton said in a written statement.
PepsiCo already has a sizeable presence in Mexico with 60 production centers, 22 manufacturing plants, 667 distribution centers and more than 19,000 sales routes. The company’s annual potato use of 230,000 tons represents 22 percent of the potato production in Mexico. With more than 40,000 employees in Mexico, PepsiCo is among the largest employers in the country.
“From the jobs we provide to the economic impact we have in the economy and through agriculture, PepsiCo’s businesses in Mexico have developed great consumer loyalty to their brands — built through decades of investment,” Compton said.