PepsiCo investing $3 billion in Mexico
November 21, 2008
by FoodBusinessNews.net Staff
MEXICO CITY — PepsiCo Americas Foods announced it will invest up to $3 billion in Mexico during the next several years to ensure growth of the Sabritas and Gamesa food businesses as well as its beverage brands.
"For the last 100 years, Mexico has been a key market for PepsiCo, and today’s news is the latest proof that we will continue to invest for the growth here," said John C. Compton, chief executive officer of PepsiCo Americas Foods. "From the jobs we provide to the economic impact we have in the economy and through agriculture, PepsiCo’s businesses in Mexico have developed great consumer loyalty to their brands, built through decades of investment."
About $2 billion of the investment will be for R.&D., manufacturing and distribution, and for marketing and advertising activities for the company’s businesses. The other $1 billion will support marketing and advertising for Pepsi across the country.
PepsiCo, Inc. recently announced it plans to invest $1 billion in China during the next four years as a part of a strategy to expand into emerging markets and broaden its portfolio.