The plant is expected to be built over a two year period, and to create around 186 jobs.
Governor Cuomo said: “This project demonstrates that leading international companies like PepsiCo and Müller see New York as a premier place to invest and the natural choice for their first venture into the yogurt business. With over $200 million in private investment and nearly 200 new jobs, this opportunity is another strong boost to the region’s growing dairy industry.”
Rumours of collaboration between the two companies have been circulating for several months as PepsiCo looks to increase its presence in the dairy market following the formation of a global nutrition unit in 2011.
PepsiCo completed the purchase of Russia’s largest dairy processor, Wimm-Bill-Dann, in September 2011. But the deal with Müller marks PepsiCo’s first move into the North American dairy market.
Rabobank’s recent report, entitled Best of Times, Worst of Times: Global Beverage Outlook 2012, said: “the world’s thirst for protein drinks, prebiotics and other functional drinks has led to a burst in new product creations,” and that a combination of soft drinks and dairy beverages will emerge as a ‘megatrend’ in the coming year.
Source: Area Development Online
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