Suntory Beverage & Food Ltd, a global soft drink company, and PepsiCo Inc, one of the world's largest food and beverage companies, announced the launch of a beverage joint venture in Thailand, Suntory PepsiCo Beverage (Thailand) Co (SPBT).
The joint venture marks a new chapter for the Pepsi-Cola brand in Thailand and is hoped to create more excitement for the country's 154-billion-baht beverage industry.
The alliance is intended to combine the strengths of both global powerhouses, with an ultimate goal of achieving the No.1 position in Thailand's 50-billion-baht carbonated soft drinks category
Another aim is creating new growth opportunities by expanding Pepsi's beverage portfolio to meet consumer demand, ranging from hydration to sports drinks, ready-to-drink teas and coffees, bottled water, and juices.
Pepsi is hoping for a variety of innovations in the future.
