Snack and beverage giant PepsiCo is to invest US$3m over the next three years in an agricultural development centre in Peru.
The centre, announced today (4 August), will promote new agricultural initiatives and focus on the development of new varieties of potatoes and other tubers and roots.
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“Peru has long been an important market for PepsiCo, and the investment we’re making in this world-class research and development facility demonstrates our long-term commitment to the country as well as to Latin America as a whole,” said chairman and CEO Indra Nooyi.
The facility will be the third PepsiCo site of its kind in the world. In the US, the company’s Center for Agricultural Research and Development of Potatoes is focused on developing potato varieties that are adaptable to temperate zones. In Europe, PepsiCo has a partnership with the University of Cambridge for agricultural research.
