PepsiCo Moves Gulf HQ To Saudi

Global soft drinks giant PepsiCo is set to shift its Gulf headquarters to a new manufacturing facility in Jeddah - Saudi Arabia's second largest city. PepsiCo has invested around SAR1bn (US$266.7mn) in the development, its largest in the Middle East and Africa region. BMI highlights that the Gulf region is particularly important to PepsiCo - being one of the few regions where it outperforms Coca Cola. In FY08, PepsiCo's net revenue in the Middle East, Africa and Asia region grew by 21.9% year-on-year (y-o-y) to US$5.6bn - a proportion that BMI believes is likely to rise in FY09.

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