October 28, 2010
Tata Global Beverages and PepsiCo sign joint venture agreement for healthy beverages
New Delhi: PepsiCo and Tata Global Beverages have, today, signed a joint venture agreement in the area of non-carbonated ready-to-drink beverages, focused on health and enhanced wellness. Both companies will hold 50 per cent in the joint venture company. Post approval by the Tata Global Beverages board, today, the joint venture agreement was signed by Saad Abdul-Latif, chief executive officer, Asia, Middle East and Africa (AMEA) division, Pepsico Inc and RK Krishna Kumar, vice chairman, Tata Global Beverages. Sanjeev Chadha, chairman and chief executive officer, PepsiCo India, was also present at the signing.
The vision of the joint venture will be to develop the business in India and internationally focussing on health and wellness beverage products.