Pepsi and Hindustan Lever Limited (HLL) joined hands in India to launch ice tea, a segment that is expected to grow into 5% to 10% of the Rs 60 billion ($1.37 billion) carbonated soft drinks market.
The two companies announced a 50/50 joint venture and launched Lipton ice tea through the alliance that pools their respective strengths to market, sell and distribute Lipton ready-to-drink teas and tea-based beverages in India.