Pepsico intends to invest another $850 million in its Chinese business in the next three years, focusing on China's central and western markets. The company has already invested $1 billion to develop its business there.
U.S. dairy exports skyrocketed in the past two years, growing 35% in 2004 and 15% in 2005, according to the International Dairy Foods Association. Mexico and Canada are the top two importers of U.S. products.
American Dairy announced a deal with local Chinese officials to build a new subsidized milk processing plant there on land it received in the deal. The milk powder and soybean producer also won exclusive processing and distribution rights to local, subsidized liquid milk in the agreement.
Supervalu Inc. takes the wraps off its new Sunflower Market banner today in Indianapolis. The discount chain will specialize in natural and organic food and stock between 8,000 and 12,000 items. CEO Jeff Noddle told analysts Tuesday the company would continue to look for acquisition opportunities in the wake of a failed bid for part of Albertson's Inc.
The popularity of Mexican-made Coke with Hispanic consumers in the U.S. has led to an underground distribution network that ignores Coca-Cola's bottling network in the states and costs local bottlers millions in sales every year.