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PepsiCo

Varun Beverages to set up production units for PepsiCo in Zimbabwe, Zambia

Varun Beverages Ltd, a franchise partner of PepsiCo, on Monday said its two subsidiaries plan to enter into an agreement with the multinational food and beverages major to manufacture, distribute and sell the snacks brand 'Simba Munchiez' in Zimbabwe and Zambia. The company plans to set up manufacturing units in Zimbabwe and Zambia entailing an investment of USD 7 million (around Rs 60 crore), according to a regulatory filing by Varun Beverages Ltd (VBL). Through its subsidiaries - VFZ Varun Foods (Zimbabwe) Pvt Ltd (VFZ) and Varun Beverages (Zambia) Ltd (VBZ), VBL has discussed with PepsiCo to further strengthen and expand the latter's footprint in the snacks portfolio. It has discussed with PepsiCo to enter into an exclusive snacks franchising appointment with Premier Nutrition Trading LLC, Dubai (a PepsiCo Inc. subsidiary) to manufacture, distribute and sell 'Simba Munchiez' in the territory of Zimbabwe and Zambia, the filing added. "As per the understanding, an estimated ...

Varun Beverages to set up production units for PepsiCo in Zimbabwe, Zambia
Updated On : 15 Jul 2024 | 5:15 PM IST

India a big, long-term growth market, says beverage major PepsiCo

Beverage major sees double-digit growth in convenient foods, beverages in Q2 in India

India a big, long-term growth market, says beverage major PepsiCo
Updated On : 11 Jul 2024 | 11:18 PM IST

PepsiCo profits jump in June quarter; net income rises 12% to $3 bn

PepsiCo reported higher-than-expected earnings in the second quarter even as customer demand for its snacks and drinks continued to slip. The Purchase, New York-based company said its net income rose 12% to $3 billion, or an adjusted $2.28 per share, for the April-June period. Wall Street had expected earnings of $2.16 per share. PepsiCo said its revenue grew less than 1% to $22.5 billion. That was slightly lower than the $22.59 analysts forecast. PepsiCo has leaned heavily into price increases over the past two years as its costs for ingredients and packaging rose. The fourth quarter of 2023 was the company's eighth straight quarter of double-digit percentage price increases. Prices rose 5% in the first quarter and 3% in the most recent quarter. But those higher prices have hurt demand. PepsiCo's global sales volumes have fallen for the last eight quarters. The company says some of that volume decline is strategic, since it has been shrinking package sizes. But it has also says ..

PepsiCo profits jump in June quarter; net income rises 12% to $3 bn
Updated On : 11 Jul 2024 | 4:17 PM IST

As war in Gaza surges, 'Iran-backed' attacks on US brands rattle Baghdad

A dozen masked men jump out of two SUVs and a white pickup and storm a KFC in Baghdad, smashing everything in sight before fleeing the scene. A few days earlier, similar violence played out at Lee's Famous Recipe Chicken and Chili House all American brands popular in the Iraqi capital. Though no one was seriously hurt, the recent attacks apparently orchestrated by supporters of Iran-backed, anti-American militias in Iraq reflect surging anger against the United States, Israel's top ally, over the war in Gaza. Iraqi governments have for years walked a delicate line between Washington and Tehran, but the eight-month war in Gaza has critically upped the stakes. The conflict erupted after the militant Hamas group stormed into southern Israel on October 7, killing some 1,200 people mostly civilians and taking 250 hostage. Israel's subsequent offensives in Gaza have killed more than 36,000 Palestinians in the territory, according to the Health Ministry there. Days after the war brok

As war in Gaza surges, 'Iran-backed' attacks on US brands rattle Baghdad
Updated On : 07 Jun 2024 | 12:14 PM IST

Varun Beverages Q1 results: Revenue up 11.3%, net profit at Rs 537 cr

Consolidated revenue from operations in the first quarter stood at Rs 4,397.98 crore as against Rs 3,952.59 crore in the year-ago period, it added

Varun Beverages Q1 results: Revenue up 11.3%, net profit at Rs 537 cr
Updated On : 13 May 2024 | 1:43 PM IST

Pepsico India starts trials to replace palm oil in Lay's: Here's why

PepsiCo India has initiated trials to replace palm oil and palmolein with a combination of sunflower oil and palmolein in Lay's chips

Pepsico India starts trials to replace palm oil in Lay's: Here's why
Updated On : 09 May 2024 | 9:55 AM IST

PepsiCo Q1 results: Net revenue rises to $18.25 billion, beats expectations

Several rounds of price hikes in the U.S. have led consumers in the region to push back on the company's sodas and juices as sticky inflation makes customers cautious with their spending

PepsiCo Q1 results: Net revenue rises to $18.25 billion, beats expectations
Updated On : 23 Apr 2024 | 3:53 PM IST

Varun Beverages starts production of soft drinks at Gorakhpur facility

Varun Beverages, leading bottler of beverage major PepsiCo, on Saturday said it has started commercial production of soft drinks and energy drinks from its production facility at Gorakhpur, Uttar Pradesh. The Jaipuria family-promoted firm will also start juices and value-added dairy products from the Gorakhpur facility, Varun Beverages Ltd (VBL) said in a regulatory filing. "Our company has today started commercial production of carbonated soft drinks & energy drinks (juices and value added dairy products to be started) at its production facility at Gorakhpur, Uttar Pradesh," it said. VBL said it is investing about Rs 1,100 crore for the greenfield project. In its latest annual report statement, VBL said it is expanding production capacities in the juices and value-added dairy products segments in 2024. VBL operates across six countries. Three markets of the Indian Subcontinent -- India, Sri Lanka, and Nepal contributed 83 per cent of its net revenues, while three African ...

Varun Beverages starts production of soft drinks at Gorakhpur facility
Updated On : 13 Apr 2024 | 9:09 PM IST

Cola, beverage, ice cream makers expect surge in sales as temperature soars

With a gradual rise in temperature and the start of heatwave, FMCG and dairy firms selling cola-based fizz drinks, juices, mineral water, ice creams and milk-based beverages expect a spike in sales and have ramped up their production and stocks to meet the anticipated consumer demand. The makers are launching new products keeping in mind the evolving consumer preferences and also investing substantially on promotions and expansion of the channels this season, company executives of beverage and ice cream makers said. Beverages major PepsiCo said summer months are naturally the most favourable season for its category and it is "optimistic" that its portfolio of brands will continue to delight consumers during the period. The company which owns brands as -- Pepsi, 7up, Mirinda, Mountain Dew, Slice, Gatorade & Tropicana, has launched campaigns taking on board leading stars such as Ranbir Kapoor, Rashmika Mandanna, Hrithik Roshan, Mahesh Babu, Kiara Adani and Nayanthara to woo ...

Cola, beverage, ice cream makers expect surge in sales as temperature soars
Updated On : 11 Apr 2024 | 6:59 PM IST

PepsiCo to invest Rs 1,266 crore to set up new facility in Madhya Pradesh

The Ujjain-plant will be crucial for PepsiCo's beverage production in India, enabling the company to meet the rising demand

PepsiCo to invest Rs 1,266 crore to set up new facility in Madhya Pradesh
Updated On : 02 Apr 2024 | 11:31 PM IST

PepsiCo India to invest Rs 1,266 crore to set up flavour facility in MP

PepsiCo India on Tuesday said it will invest Rs 1,266 crore to set up a flavour manufacturing facility at Ujjain in Madhya Pradesh as part of its expansion plans in the country. The plant spread over 22 acres, will play a significant role in scaling up PepsiCo's beverage production in India, generating employment and positively impacting the local economy, the company said in a statement. The construction of the upcoming plant is slated to start in 2024 and is expected to be operational in the first quarter of 2026, it added. "With support from the government of Madhya Pradesh, we aim to strengthen our footprint while driving impactful progress in enhancing the socio-economic landscape of the region," PepsiCo India & South Asia CEO Jagrut Kotecha said. PepsiCo India Senior Vice President, Beverages George Kovoor said the new unit will be the company's second flavour manufacturing facility in India. "We aim to ramp up the production of our beverages to meet the rising demand in the

PepsiCo India to invest Rs 1,266 crore to set up flavour facility in MP
Updated On : 02 Apr 2024 | 2:04 PM IST

Varun Beverages completes acquisition of South African bottler BevCo

Varun Beverages Ltd, PepsiCo's largest franchise bottler, on Wednesday said it has completed the acquisition of South Africa-based Beverage Company (BevCo) along with its wholly-owned subsidiaries. The acquisition was done after receipt of requisite approvals from PepsiCo Inc and Competition Commission South Africa and now BevCo has become a subsidiary of the company from March 26, Varun Beverages Ltd (VBL) in a regulatory filing. VBL has also issued a corporate guarantee amounting to ZAR 1,500 million (around Rs 660 crore) to secure credit facilities extended to BevCo by the FirstRand Bank there, it added. However, it also added: "There is no impact of this corporate guarantee on the company." In December 2023, VBL announced its plans to acquire 100 per cent stake in BevCo, along with its wholly-owned subsidiaries at an enterprise level, valued at about Rs 1,320 crore (about ZAR 3 billion). BevCo holds franchise rights from PepsiCo in South Africa, Lesotho and Eswatini. It also h

Varun Beverages completes acquisition of South African bottler BevCo
Updated On : 27 Mar 2024 | 8:52 PM IST

Ex-PepsiCo CEO Indra Nooyi advises Indian students in US to be 'watchful'

Nooyi advised Indian students to respect local laws and not engage in drugs or excessive drinking

Ex-PepsiCo CEO Indra Nooyi advises Indian students in US to be 'watchful'
Updated On : 22 Mar 2024 | 1:16 PM IST

Varun Beverages to expand capacities of juices, value-added dairy items

Varun Beverages, leading bottler of beverage major PepsiCo, is expanding its production capacities in the juices and value-added dairy products segments in 2024, according to the latest annual report of the company. Besides, Varun Beverages Ltd (VBL) is strengthening its distribution network and chilling infrastructure, which is essential to enhance presence in the existing and under-penetrated markets, its promoter & Non-Executive Chairman Ravi Jaipuria told shareholders. "Central to our expansion strategy for CY 2024 is the further development of manufacturing facilities, with a focus on adapting to evolving consumer preferences and market trends. We are particularly concentrating on increasing our production capacities in the juices and value-added dairy products segments," he said. The company operates across six countries. Three markets of the Indian Sub-continent, India, Sri Lanka and Nepal, contributed 83 per cent of its net revenues, while three African countries, Morocco,

Varun Beverages to expand capacities of juices, value-added dairy items
Updated On : 08 Mar 2024 | 4:05 PM IST

American beverage giant PepsiCo launches new globe logo worldwide

In India, the company unleashed the new globe logo at the Gateway of India, Mumbai with a digital artwork

American beverage giant PepsiCo launches new globe logo worldwide
Updated On : 01 Mar 2024 | 11:52 PM IST

PepsiCo rolls out new globe logo in India as part of rebranding exercise

Global beverages major Pepsi on Friday rolled out its new logo worldwide as part of its rebranding exercise. This is the first visual identity change by Pepsi in the last 14 years, according to a statement by the American beverage major. As part of this, the new Pepsi globe logo was unleashed at Gateway of India in Mumbai, where it took over the monument with a digital artwork, it added. "The new logo thoughtfully borrows equity from Pepsi's past, whilst incorporating modern elements to create a look that is unapologetically current and undeniably Pepsi. The updated colour palette introduces electric blue and black to bring a contemporary edge to the classic Pepsi colour scheme," it said. The signature Pepsi pulse evokes the "ripple, pop and fizz" of Pepsi-Cola moving in time, it said. "The fresh design language reflects the invigorating spirit of Indian youth and their boundless pursuit of possibilities," Shailja Joshi, Category Lead, Pepsi Cola, PepsiCo India, said.

PepsiCo rolls out new globe logo in India as part of rebranding exercise
Updated On : 01 Mar 2024 | 8:44 PM IST

PepsiCo India looking to capture bigger share of potato-based chips market

The potato chips market is valued at Rs 9,000 crore, with PepsiCo's Lay's brand as the dominant player

PepsiCo India looking to capture bigger share of potato-based chips market
Updated On : 29 Feb 2024 | 3:01 PM IST

Biden calls on snack cos to stop 'shrinkflation', calls practice a rip-off

"Give me a break. The American public is tired of being played for suckers. I'm calling on companies to put a stop to this. Let's make sure businesses do the right thing now," he said.

Biden calls on snack cos to stop 'shrinkflation', calls practice a rip-off
Updated On : 12 Feb 2024 | 10:06 AM IST

PepsiCo misses revenue estimates as multiple price hikes dent demand

PepsiCo and other retailers are now facing some resistance to the multiple price hikes undertaken since the pandemic to fend off higher costs caused by supply chain disruptions

PepsiCo misses revenue estimates as multiple price hikes dent demand
Updated On : 09 Feb 2024 | 5:46 PM IST

Varun Beverages Q4 result: Profits surge 77%, revenue at Rs 2,731 cr

Consolidated net profit rose to Rs 132 cr ($15.9 million) for the fourth quarter ended Dec. 31, compared with Rs 74.75 crore rupees in the year-ago period

Varun Beverages Q4 result: Profits surge 77%, revenue at Rs 2,731 cr
Updated On : 05 Feb 2024 | 2:03 PM IST