The latest news, trends, analysis, interviews and podcasts from the global food and beverage industry

Carlsberg Group is expanding its long-standing bottling partnership with PepsiCo into Georgia and Armenia, following a similar agreement announced for Azerbaijan earlier this year.

The agreements will see Carlsberg take responsibility for the production, sale and distribution of PepsiCo’s soft drinks portfolio in the two markets, while creating a broader South Caucasus cluster for the brewer and beverage company.

As part of the expansion, Carlsberg has agreed to acquire Iberia Refreshments in Georgia and JI Pepsi Cola Bottler Armenia from Revery, the current owner of both businesses. Both companies are existing PepsiCo bottlers in their respective markets.

The acquisition of JI Pepsi Cola Bottler Armenia remains subject to regulatory approval from the Armenian government. Once the transactions are completed, Georgia and Armenia will become operating markets for the Carlsberg Group.

The move represents a further broadening of Carlsberg’s role in the PepsiCo system and follows the group's recently announced agreement to become PepsiCo’s bottling partner in Azerbaijan from 2027.

Together, the three South Caucasus markets are expected to provide Carlsberg with a regional platform from which to develop PepsiCo’s beverage business, while leveraging its established operations and market presence in Azerbaijan.

Nikos Kalaitzidakis, executive vice president, Central and Eastern Europe & India at Carlsberg Group, said the expansion would provide a platform to develop a “full multi-beverage portfolio” across the region.

Natalia Filippociants, SVP and GM, Internal Beverages Europe at PepsiCo, said the expanded partnership would help the company “unlock the next phase of growth” in the two markets.

Once the latest agreements take effect, Carlsberg will have PepsiCo bottling agreements covering 17 markets.

These include the UK, Ireland, Norway, Sweden, Switzerland, Kazakhstan, Kyrgyzstan, Laos and Cambodia. From 2029, the relationship will also extend to Denmark, Finland, Estonia, Latvia and Lithuania, while Azerbaijan is scheduled to join the network from 2027.

Georgia and Armenia will be added following completion of the proposed acquisitions.