MANILA, Philippines - Beverage maker Pepsi-Cola Products Philippines Inc. (PCPPI) is set to venture into the snack food business in the Philippines.
In a disclosure to the local bourse, PCPPI said its board has approved plans to invest for the manufacture, sale and distribution of snack food in the country.
PCPPI’s entry in the snack food business is expected to challenge existing players, including market leader Universal Robina Corp. of the Gokongwei Group.
Last year, the exclusive bottler of PepsiCo beverages in the Philippines invested on a manufacturing plant in Sto.Tomas in Batangas and expanded facilities in Muntinlupa, Cebu and Davao.
The new Batangas plant is scheduled to start operations in the second half of this year.
PCPPI committed to invest P3.5 billion this year to continue expanding its production and distribution line as demand is expected to rise further.
PCPPI is the exclusive bottler of PepsiCo beverages in the Philippines which include Pepsi-Cola, Mountain Dew, Seven Up, Mirinda, Gatorade, Tropicana, Mug, Lipton, Sting and Premier.
The listed firm is partly owned by Lotte Chilsung, one of the biggest beverage companies in South Korea.
The company has established manufacturing facilities across the country, serving at least 500,000 outlets and providing employment through its extensive distribution network.