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Biz News Korea(Eng)
Lotte Chilsung Beverage to bottle and supply Pepsi brands in Pakistan
- Collected
- 2017.12.26
- Distributed
- 2017.12.27
- Source
- Go Direct
Lotte Chilsung Beverage said on Monday it signed a JV agreement with Pakistan’s Akhtar Group that owns local beverage maker Riaz Bottlers. The Korean company will pay 53.3 billion won ($49.5 million) for a 52 percent stake in the JV.
The JV will strike a bottling deal with PepsiCo Inc. to supply Pepsi brands via Riaz Bottlers’ sales network.
Established in August 1976, Riaz Bottlers is headquartered in Pakistan’s major transportation and business hub of Lahore, the capital of northeastern Punjab Province, and has been bottling and supplying drinks of PepsiCo.
Pakistan would be the fourth global market for Lotte Chilsung Beverage after China, the Philippines and Myanmar.
By Kim Byung-ho and Lee Ha-yeon
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