PepsiCo India has divested its four plants in the North to its bottling partner Varun Beverages, a part of RJ Corp, as part of a franchise agreement. “This transaction is aligned with PepsiCo’s long-term strategy to grow our business in India, which is an important strategic market,” PepsiCo India Chairman and CEO D Shivakumar said in a statement. He further said: “We are expanding our partnership with a strategic partner who understands the local market and has continually demonstrated the ability to drive synergies and deliver strong market execution.” The company did not share the financials of the transaction. — PTI
