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Tingyi signs bottling agreement with PepsiCo

(China Daily)

13:39, November 05, 2011

Two attendees eat "Master Kong" noodles in front of a Pepsi billboard at the 11th China High-Tech Fair in Shenzhen, Guangdong province in 2009. [Photo/China Daily]

BEIJING - Chinese instant noodle maker Tingyi (Cayman Islands) Holding Corp reached agreement on Friday with PepsiCo Inc that Tingyi's beverage subsidiary will become the US company's franchise bottler in China. The move is designed to strengthen both parties' ability to capture market share in China's non-carbonated drinks sector.

Under the new alliance, Tingyi-Asahi Beverages Holding Co Ltd (TAB) will partner with PepsiCo's current bottlers to manufacture, sell and distribute the company's carbonated soft drinks and its Gatorade brand. PepsiCo will retain branding and marketing responsibilities for the products, according to a PepsiCo statement on Friday.

TAB also will begin co-branding its juice products under the "Tropicana" brand under license from PepsiCo. TAB and PepsiCo's current bottlers will hold the rights to distribute PepsiCo's branded beverage products in China.

In addition, PepsiCo will provide the alliance with access to its global beverage innovation pipeline, the announcement said, without revealing the financial details of the agreement.

"Ready to welcome a golden age for the Chinese beverage industry amid intense market competition, Tingyi and PepsiCo will continue building up their capacity to seize market opportunities and satisfy consumers' diversified demands with world-class products," said Wei Ing-Chou, Tingyi's chairman and CEO in the announcement.

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