PepsiCo Eyes New Joint Yogurt Venture With German Dairy Company
October 18, 2011 | 1 min to read
Beverage and snack food maker PepsiCo Inc is close to setting up a joint venture with German dairy company Theo Muller Group in an effort to break into the fast growing yogurt business, the Wall Street Journal reported, citing people briefed on the matter.
The venture, under which Pepsi and privately held Muller would launch a new yogurt brand in the United States, is likely to be announced in the coming weeks, the people told the Journal.
The move would fit perfectly into Pepsi's plans to expand its offerings in healthy foods and dairy.
"Since forming the Global Nutrition Group to accelerate the growth of our nutrition portfolio, we constantly look at product innovation and partner offerings to help us achieve this mission," a PepsiCo spokesman said when contacted for comment.
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