Page 4 - Pepsico

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

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

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,

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

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 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

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.

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

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

Israel-Hamas war: Starbucks, Coke, McDonald's hit by Middle East boycotts

In Cairo, on a recent weekday, dozens of usually bustling Starbucks and McDonald's stores stood completely empty

PepsiCo India appoints marketing chief Jagrut Kotecha as new CEO

Incumbent Ahmed El Sheikh will move to lead beverages and snacks company's Middle East business unit

PepsiCo wins appeal against India's attempt to remove potato patent

PepsiCo has said it exclusively developed the FC5 variety and registered it in 2016

Delhi HC permits PepsiCo to claim patent for potato chips variety

The division bench thus set aside the single judge order of July 5 last year dismissing Pepsi's appeal against an order that revoked the company's patent-protected potato variety used for making chips

Carrefour says it will not sell PepsiCo products due to price hikes

Carrefour is telling customers it will no longer sell PepsiCo products like Pepsi, Lay's crisps and 7up because they had become too costly

Billionaire Gustavo Cisneros, who defined Venezuela business, dies at 78

His death was confirmed by the Cisneros Group, without providing additional details

BevCo's acquisition to aid Varun Beverages' market share, EPS: Analysts

Shares of Varun Beverages hit a new peak of Rs 1,380.45 as they surged 18 per cent in Wednesday's intraday trade. With an m-cap of Rs 1.63 trillion, VBL stands at 40th position in m-cap ranking

Varun Beverages Ltd to acquire The Beverage Company for Rs 1,320 cr

Varun Beverages Limited said that the indicative time period for the completion of the acquisition is on or before July 31, 2024

Disney taps CFO Hugh Johnston who fended off Peltz at Pepsi, beat forecasts

"With Hugh there, Pepsi did a nice job convincing the Street that it had a growth plan," said Bloomberg Intelligence analyst Ken Shea

Walt Disney Co names PepsiCo's Hugh Johnston as chief financial officer

Johnston has served a variety of roles at PepsiCo beginning in 1987. He left to become the CFO at Merck and Co. from 1999 to 2002, then returned to the Purchase, New York snack and beverage giant

Double-digit volume growth in beverages category in India: PepsiCo

Indian FMCG major Dabur had said that it expects to register a mid to high-single-digit revenue growth due to a mild summer and slightly deficient monsoon