Pepsico jumps into US yogurt
Pepsico is starting a joint venture with Theo Müller Group, Germany’s largest privately-owned dairy business. Zacks Equity Research company says that Pepsi and Müller will soon launch a yogurt brand in the US. The soft drink giant also plans to embark on more upcoming collaborative deals and alliances to reach its goal of nearly tripling annual sales of nutritious and functional foods to $30 billion (€22.5bn) by 2020. PepsiCo expects healthier products to make up as much as 30 per cent of its portfolio in 10 years, as the company expands its range of juice, dairy and grain products.
Theo Müller has operations in many European countries. The group has strong brands like Müller, Weihenstephan, Sachsenmilch and Käserei Loose in its portfolio. Retail brands and basic dairy products include butter, UHT-milk, lactose powder and whey protein complements the portfolio. Besides the milk processing subsidiaries, the Müller Group also comprises the Optipack packaging company, the company’s own logistics enterprise Culina, as well as Fahrzeugtechnik Aretsried and Müller Naturfarm, one of the largest fruit processing companies in Germany.