PepsiCo, Suntory form JV in Viet Nam

PEPSICO and Suntory Holdings Limited have agreed on a strategic partnership where the Japanese company will assume 51% stake in PepsiCo’s Viet Nam beverage business. Both manufacturers will hold key roles in the management team of the new joint venture, which will be their bottling entity in the country. Pepsi will retain marketing and innovation responsibilities for its beverage brands whilst Suntory will fulfil its expansion in the Southeast through its strong brands and market expertise.