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The Carlsberg Group has announced an expansion of its strategic partnership with PepsiCo, with a new agreement that will see the brewer become PepsiCo’s bottler in Denmark, Finland and the Baltic states from 1 January 2029.

Carlsberg has served as PepsiCo’s bottler in Sweden and Norway for more than 25 years. Under the new agreement, the partnership will be extended to cover all Nordic markets as well as the Baltics. From 2029, Carlsberg will take over the production, sale and distribution of PepsiCo’s beverage portfolio in Denmark, Finland, Latvia, Estonia and Lithuania.

Following the agreement, Carlsberg will hold PepsiCo bottling appointments across 14 markets spanning Europe, Central Asia and South-East Asia, including the UK, Ireland, Switzerland, Kazakhstan, Kyrgyzstan, Cambodia and Laos.

Carlsberg’s existing bottling agreements with The Coca-Cola Company in Denmark and Finland will remain in place until they expire on 31 December 2028.

Carlsberg Group CEO Jacob Aarup-Andersen said the move would strengthen the company’s long-standing partnership with PepsiCo.

“We’re very pleased that we’ll become the sole PepsiCo bottler in the Nordics and the Baltics. This is an exciting move, solidifying our longstanding strategic partnership with PepsiCo. The growth prospects and value creation opportunities from a business model which combines the Carlsberg and PepsiCo beverage portfolios are truly significant."

He added that the companies would look to further leverage PepsiCo’s beverage portfolio and explore opportunities to expand the partnership further.

Eugene Willemsen, CEO of PepsiCo International Beverages, said: “We’re pleased to further strengthen our collaboration with Carlsberg by adding five markets in January 2029. The expanded Carlsberg partnership announced today will provide exciting new growth opportunities for both parties.”