Summary

PepsiCo and PT Indofood CBP Sukses Makmur Tbk's joint venture, PT Indofood Fritolay Makmur (IFL), will stop producing, packaging, marketing, selling, and distributing PepsiCo products that compete with IFL products in Indonesia from August 2021. PepsiCo has agreed to sell its minority stake in IFL and end the successful 30-year partnership. For three years from August 2021, PepsiCo and its affiliates have agreed not to produce, package, sell, market, or distribute snack products that compete with IFL products in Indonesia. However, PepsiCo recognizes that Indonesia has a strong snack industry prospect, and the Indonesian market will continue to be an important part of PepsiCo's long-term growth strategy.
PepsiCo will continue to offer its Quaker Oat products in Indonesia, and the company hopes to return to the Indonesian market with its products such as Lays, Doritos, and Cheetos as soon as possible. The company's official statement said, "We hope to return to the Indonesian market with our products such as Lays, Doritos, and Cheetos as soon as possible, to create more smiles with every sip and every bite."
PepsiCo and PT Indofood CBP Sukses Makmur Tbk's joint venture, PT Indofood Fritolay Makmur (IFL), will end the production, packaging, marketing, selling, and distribution of PepsiCo products that compete with IFL products in Indonesia from August 2021. PepsiCo has agreed to sell its minority stake in IFL and end the successful 30-year partnership. For three years from August 2021, PepsiCo and its affiliates have agreed not to produce, package, sell, market, or distribute snack products that compete with IFL products in Indonesia.
PepsiCo will continue to offer its Quaker Oat products in Indonesia, and the company hopes to return to the Indonesian market with its products such as Lays, Doritos, and Cheetos as soon as possible. The company's official statement said, "We hope to return to the Indonesian market with our products such as Lays, Doritos, and Cheetos as soon as possible, to create more smiles with every sip and every bite."