Pepsi formed the joint venture with Saudi Arabian dairy company Almarai in 2009, with the purpose of expanding in southeast Asia, Africa and the Middle East.
The joint venture acquired Beyti from Almarai, which bought Beyti in October 2009 and transferred it to the joint venture at no cost. Beyti produces dairy and juice products, including yogurt and cheese.
The deal expands PepsiCo’s existing non-alcoholic beverages and savoury snacks offerings in Egypt, and it expands Almarai’s offerings in dairy outside its core markets, PepsiCo said.
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