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Corporate News
15-Jul-24
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Varun Beverages partners with PepsiCo
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To sell “Simba Munchiez” in the territory of Zimbabwe & Zambia
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Varun Beverages (VBL) announced that to further strengthen the relationship with PepsiCo and expand the footprint in PepsiCo snacks portfolio, VBL, through its subsidiaries - Varun Foods (Zimbabwe) (VFZ) and Varun Beverages (Zambia) VBZ, has discussed with PepsiCo to enter into an Exclusive Snacks Franchising Appointment with Premier Nutrition Trading LLC, Dubai (a PepsiCo Inc. subsidiary) to manufacture, distribute, and sell “Simba Munchiez” in the territory of Zimbabwe & Zambia.
As per the understanding, an estimated investment in manufacturing facility would be around USD 7 mn (approx. Rs 60 crore) for an annual capacity of ~5,000 MT for manufacturing of Simba Munchiez in multiple SKUs at each location of Zimbabwe and Zambia.
As agreed, the appointment will be effective on or before 1 October 2025 for Zimbabwe and 1 April 2026 for Zambia, once the respective manufacturing facilities comes into operation.
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(
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