PepsiCo, the concern which owns brands like Pepsi and Lay's, returns to Myanmar - formerly called Burma. PepsiCo finds that the time is ripe to become active once again in the country it left in 1977.
A deal with Diamond Star
The American group has made an exclusive deal with Diamond Star, a Burmese distributor, who will be the only one to import and distribute the brands Pepsi, 7-Up and Mirinda (juices).
In the official announcement, the concern also stated to be interested in the agricultural potential of Myanmar – the concern handles four billion kilos of potatoes each year – and in potential investments in the local industries. At the same time, PepsiCo and UNESCO will start a project to support the development of the country.
“Myanmar is a market with great potential and our agreements with Diamond Star and Unesco are the first important steps towards expanding our presence in the country. Over time, we believe that we can build a strong business in Myanmar and play a positive role in the country's continued development”, said Indra Nooyi, CEO of PepsiCo.
Coca-Cola had also announced a return to Myanmar mid June. The rival from Atlanta left Burma in 1962, after the military coup that would make the country crash into isolation for decades. Earlier this year, the United States Department of State had called out to invest in Myanmar once again.
Translation by Sanne Raspoet