Pepsi Lipton International Joint Venture Formed

PepsiCo, Purchase, NY, and Unilever, New York, NY, have created Pepsi Lipton International, which is a 50-50 joint venture (JV) that pools the companies’ re­spective strengths to market, sell and distribute Lipton ready-to-drink (RTD) teas and tea-based beverages in selected international markets. The new JV will augment PepsiCo’s portfolio of healthy refreshment beverages, complementing brands such as Tropicana, Gatorade and Aquafina. It also will advance Lipton’s leading position in the $23 billion global RTD tea market, the fastest-growing beverage category outside North America.