PepsiCo Mexico announces investment of 4 billion dollars
"We are proud of our more than 110 years of history in Mexico and we are excited for the next 100. Mexico is our largest operation in Latin America and the second in the world," said Ramón Laguarta, Chairman of the Board of Directors and Executive Director of the multinational of soft drinks and food products PepsiCo.
The investment announced includes more than 1 billion dollars in local raw materials, such as potatoes, corn, and sugar from small, medium and large producers. PMF plans to renovate its Agricultural Development Center (CDAS) to ensure the supply of high-quality potato seeds for the long-term growth of the business.
Likewise, PMF will invest 109 million dollars in its first new plant in 20 years, which will be located in Guanajuato. When it works at full capacity, in 2025, it is expected to create an additional 1,000 jobs. The business group will continue with the transformation of its product portfolio, and for that, it plans to invest 13 million dollars to further reduce saturated fats.
It also plans to invest more than seven million dollars in community development programs focused on water, recycling, nutrition and the empowerment of women to benefit more than 150,000 people in the country.
Miguel Antor, executive director of Gepp, said that "the program of announced initiatives confirms the long-term business philosophy and the commitment of the group to the continued reinvestment in Mexico."
PepsiCo Mexico is one of the largest consumer products companies in the country, a subsidiary of PepsiCo, a world leader in the food and beverage sector. For its part, Grupo Gepp is the exclusive bottler of PepsiCo in Mexico, in addition to which it elaborates, distributes and commercializes carbonated and non-carbonated beverages.