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Pepsi’s Rights Sold For $ 15 mn

Dec 25, 2010 2:20:05 PM - thesundayleader.lk

An Indian company which invested US$ 15 million in buying the franchise, plant and machinery of Pepsi in Sri Lanka from the Maharaja Group of companies, plans to infuse a further US$ 25 million in the next three years to expand its operations here.
Varun Jaipuria of R.J. Corp, Gurgaon, India which acquired Pepsi’s rights here in the middle of this year said that they also plan to double their cadre strength to 600 in three years’ time
The company sees growth potential in the newly opened up Northern and Eastern provinces.
Pepsi which claims to have a 10% market share in the local soft drinks market finds Jaffna to be its biggest market with a 20-30% market share, followed by Kandy. Colombo, the traditional market leader in the island’s various consumer categories because of its relative wealthier status compared to other areas in the country, is however not among Pepsi’s top two markets in the island.
The company sees Sri Lanka’s Rs. 15 billion soft drinks market growing by 10-15% annually, whilst projecting a 20% growth in volume terms alone in the North and East next year. Islandwide, yearly soft drinks consumption is estimated at 72 million litres annually.
The leaders in the country’s soft drinks market are Elephant House and Coke where  each have a 40% market share.
Pepsi is the sponsor of the ICC 50 Over World Cup Cricket tourney which will take place in Sri Lanka and India early next year.