The Vietnam joint venture between PepsiCo and Japanese beverage firm Suntory Holdings Ltd. began operations on April 4.
The joint venture was formed after PepsiCo sold a 51 percent stake to Suntory for an undisclosed sum.
The new joint venture will be called Suntory Pepsico Vietnam Beverage Company Ltd after it gets the investment license from Vietnamese authorities, according to a Saigon Times report.
The two companies announced their joint venture last October.
The new alliance is expected to "build on PepsiCo's existing position in Vietnam and to create new growth opportunities for PepsiCo and Suntory in the market," a news release by the Japanese company said, adding that PepsiCo would retain marketing and innovation responsibilities for its beverages.
The two companies have "successfully" worked together in the US, Japan, and New Zealand, it said.
In a statement sent to all employees on April 3, the joint venture's chief executive officer, Mundlay Shekhar, said PepsiCo's food business in Vietnam began operating independently in February.
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