PepsiCo (NYSE:PEP) has signed a distribution deal with Diamond Star in Myanmar.
PepsiCo Moving Into Myanmar
The drinks and snacks maker PepsiCo (NYSE:PEP) is entering into the Myanmar drinks market with three of its soda brands Pepsi-Cola, 7-Up and Mirinda.
The company signed a distribution deal with a local distributor Diamond Star Co. to import and distribute its products in Myanmar.
Indra Nooyi, chief executive of PepsiCo (NYSE:PEP) said, “Myanmar is a market with great potential, and our agreements with Diamond Star and UNESCO are important first steps towards expanding our presence in the country. Over time, we believe we can build a strong business in Myanmar and play a positive role in the country’s continued development”.
PepsiCo (NYSE:PEP) shares were at 72.14 at the end of the last day’s trading. There’s been a 8.0% change in the stock price over the past 3 months.