PURCHASE, N.Y. — PepsiCo, Inc. has signed an agreement with Diamond Star Co., Ltd., a unit of the Capital Diamond Star Group, to distribute PepsiCo beverage brands in Myanmar.
The move is the latest in PepsiCo’s effort to expand in developing and emerging markets. In addition to the distribution agreement, PepsiCo said it plans to explore other opportunities to invest in agricultural development projects in Myanmar.
PepsiCo also has agreed to partner with the United Nations Educational, Scientific and Cultural Organization (UNESCO) to provide vocational training initiatives in Myanmar.
“PepsiCo has a strong and growing business that spans more than 200 countries and territories around the world, and we are constantly looking for new growth opportunities that will put our food and beverage brands in the hands of more consumers,” said Indra Nooyi, chairman and chief executive officer of PepsiCo. “Myanmar is a market with great potential, and our agreements with Diamon Star and UNESCO are important first steps toward expanding our presence in the country.”