Pepsi Philippines to enter food business

Pepsi-Cola Products Philippines, Inc.  (PCPPI) sees an auspicious time to embark on the food business. Following the agreement amongst shareholders to add “food and food products, snacks” to its stated purpose in May, the company is now setting long-term plans to manufacture, sell and distribute snack food products in the country. According to local daily, Philippine Star, the company will invest Php 650 million on this new venture which will likely be implemented by 2015.

The exclusive partner of PepsiCo, Inc. and Pepsi Lipton International Ltd currently bottles Pepsi and Lipton beverages, and serves over 500,000 outlets nationwide. PCPPI is co-managed by South Korean company, Lotte Chilsung, which is a major shareholder. In August, PCPPI saw double-digit growth for Q2 2014, with 11% increase in its sales volume as compared to the previous year.  Gross sales revenue was at PhP 8.3 billion.