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About: Pepsi Philippines     Goto   Sponge   NotDistinct   Permalink

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Type: Thingcompanyschema:Organizationdul:Agentdul:SocialPersonagentwikidata:Q24229398OrganizationBusiness enterpriseorganisation New Facet based on Instances of this Class

Pepsi-Cola Products Philippines, Inc. (PCPPI) was established in 1989 as Premier Beverages by Luis Lorenzo, Sr. to acquire the bottling and distribution rights to PepsiCo beverages in the Philippines. In 1997, the Guoco Group acquired Lorenzo’s holdings in PCPPI. Under Guoco management, ₱700 million was spent in 1998 to upgrade the facilities of PCPPI. In 2000, PepsiCo paid P 2 billion to the Guoco Group to acquire a 33% stake in PCPPI. News reports cited the rationale was to ensure PepsiCo had a continuing market for its concentrates, even if it meant infusing money into its licensed bottlers.