Pepsi-Cola Products Philippines, PepsiCo’s drinks distributor in the Asian country, plans to set up a snacks factory.
The publicly-listed company, in which PepsiCo is a shareholder, said it wanted to move into a “product line that is complementary to [our] existing beverage business”.
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In a statement to the Philippines Stock Exchange, the group said it “tentatively” believed the project would cost at least PHP650m (US$14.6m). It added it was “looking at a proposed timetable of potentially H2 2015 for project implementation”.
No mention was made of where the plant will be located. Officials at Pepsi-Cola Products Philippines could not be reached for immediate comment.
Pepsi-Cola Products Philippines is the exclusive bottler of PepsiCo drinks in the Philippines. South Korean conglomerate Lotte Group is the company’s largest shareholder, owning just short of 38.9% of the business.
According to a stock exchange filing issued in July, the Netherlands-based Quaker Global Investments owns 25%.
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