Pepsi (PEP) Aims to Enter Expanding U.S. Yogurt Market
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According to reports Thursday, PepsiCo (NYSE: PEP) is nearing a deal to enter the U.S. yogurt market.
The WSJ said Pepsi is seeking a joint venture with German dairy company Theo Müller Group to gain a foothold in the U.S. yogurt market.
No financial details about the deal have been released. The announcement is expected to be made within a matter of weeks.
With the U.S. yogurt market doubling in size over the last 10 years, Pepsi has been missing out on the growth with no current dairy position or offerings.
Dairy has been on the brain though, with the $5.4 billion acquisition of Russia's Wimm-Bill-Dann recently, and a joint venture with Saudi Arabia's Almarai in 2009.
Shares of Pepsi closed 0.5 percent lower Thursday.
Our request? Please don't add peaches, Pepsi.
The WSJ said Pepsi is seeking a joint venture with German dairy company Theo Müller Group to gain a foothold in the U.S. yogurt market.
No financial details about the deal have been released. The announcement is expected to be made within a matter of weeks.
With the U.S. yogurt market doubling in size over the last 10 years, Pepsi has been missing out on the growth with no current dairy position or offerings.
Dairy has been on the brain though, with the $5.4 billion acquisition of Russia's Wimm-Bill-Dann recently, and a joint venture with Saudi Arabia's Almarai in 2009.
Shares of Pepsi closed 0.5 percent lower Thursday.
Our request? Please don't add peaches, Pepsi.
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