October 22/Purchase, N.Y., and Osaka, Japan/PRNewswire -- PepsiCo Inc. and Suntory Holdings Limited announced an agreement to form a strategic alliance in Vietnam.
Under the terms of the agreement, Suntory will acquire a 51% stake in PepsiCo's Vietnam beverage business, while PepsiCo will be a 49% shareholder. Suntory and PepsiCo will hold key roles in the management team of the new joint venture, which will serve as the bottler for both companies in Vietnam.