Varun Beverages, an India-based PepsiCo bottler, has outlined plans to invest around $300m over the next one year, in a move to expand its business.
Of the total investment, around $85m will be secured from World Bank Group member International Finance and other investors.
As part of the expansion, the company is planning to invest in its existing Pepsi bottling and distribution franchise business across India, Nepal, Sri Lanka, Morocco, Zambia and Mozambique as well as purchasing companies.
Varun Beverages' workforce is anticipated to increase to 8,000 from the current 4,200 over the next few years, as the company expands its operations in south-Asia and Africa.
The company currently operates nine PepsiCo bottling plants across Haryana, Uttar Pradesh, Rajasthan, north-east, Goa and Delhi in India.
Varun Beverages is 33.93% owned by RJ Corp, as well as 33.03% controlled by RK Jaipuria HUF and family and the remaining 33.02% is held by Varun Jaipuria.
