ECONOMY

Pepsico seeks to disengage from Greek market

Soft drinks manufacturer Pepsico-Ivi is seeking a bottler in the Greek market to take on the exclusive rights of production and sale of its brands, as the Pepsico group wishes to disengage from its loss-making activity in Greece.

However despite holding talks with at least three Greek firms Pepsico-Ivi has failed to find a taker, as the local companies are interested in the acquisition of certain brands with a high market share and not a franchising relationship with Pepsico.

Talks apparently took place with the Epirotic Bottling Industry, producer of Vikos Water, in October, but the firm is only interested in the Ivi brand and not a franchising deal that would entail the production of Pepsi products, which in Greece are losing their market appeal. Similar talks have also been held with EPSA and Loux Marlafekas, with the latter telling Kathimerini that “Pepsico-Ivi never produced a clear proposal as to what it wishes to sell.”

Pepsico-Ivi confirms that one of the solutions being examined is to find a franchisee, telling Kathimerini that the firm “always tries to find the optimum operation mode” and that there is no chance it will “sell off the company.” Pepsico-Ivi shut down its Loutraki water bottling plant last year and put it up for sale.