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Corporate News

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(20 Feb 2024, 19:00)

Varun Beverages signs appointment agreement for manufacturing Cheetos in Morocco

Varun Beverages and PepsiCo Inc., through their respective subsidiaries i.e. Varun Beverages Morocco SA (100% subsidiary of the Company) and Premier Nutrition Trading L.L.C. Dubai (subsidiary of PepsiCo Inc.) has today entered into an Exclusive Snacks Appointment Agreement to manufacture and package Cheetos in the territory of Morocco effective 01 May 2025 i.e. the expected date of start of commercial production from the company's own manufacturing facility with a capex of approx. Rs.100 crore.

This appointment is in addition to the existing distribution agreement for PepsiCo's snacks portfolio consisting of Lays, Cheetos, Doritos in the territory of Morocco.

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