PepsiCo and Almarai JV Makes First Buy

Having sealed a groundbreaking tie-up in February 2009 to form International Dairy and Juice Limited (IDJ), PepsiCo (it owns 52% of IDJ) and Almarai have made their first acquisition by buying up a 75% stake in Jordan-based dairy and fruit juice producer Teeta. The company was already on Almarai's books having been acquired in January 2009 and this latest development will see its assets transferred onto IDJ's balance sheet at cost. As a leading company in Jordan, the acquisition of Teeta falls within the bounds of IDJ's remit to invest in promising dairy and juice companies operating in Southeast Asia,

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