PepsiCo Earmarks $5 Billion for Mexico
PepsiCo Inc. plans to spend $5 billion in Mexico over the next five years. Although a little light on specifics, the company announcement indicated some of the money would support PepsiCo's Global Baking Category Innovation Center in Monterrey. Altogether, the investment should create 4,000 jobs.
"The investments we've made to bolster our position in key markets around the world are fueling our success and positioning PepsiCo to deliver sustainable long-term growth," Chairman and CEO Indra Nooyi said at the World Economic Forum in the Swiss resort of Davos.
"PepsiCo brands have been enjoyed by Mexican consumers for more than a century and we see tremendous opportunities to further expand our food and beverage business. We're confident in Mexico's future, and we believe this investment will create significant value for PepsiCo, our customers, our shareholders and for Mexico as a whole."
The announcement called Mexico "one of the most attractive markets in Latin America with a growing middle class and numerous opportunities for long-term economic growth."
The spending will be in four areas:
- Innovation & Brand Building
- Infrastructure (including adding new manufacturing lines)
- Community (citing the PepsiCo Mexico Foundation investments in local communities and societal development projects throughout the country).