13 November 2012

PepsiCo Opens New Food and Beverage Innovation Center in Shanghai, China

- PepsiCo's largest R&D center outside of North America 

Shanghai – 13 November 2012 (PRNewswire) - PepsiCo, Inc. today announced the opening of a new food and beverage innovation center in Shanghai, China. The state-of-the-art facility, which is PepsiCo's largest research and development center outside of North America, will serve as a hub of new product, packaging and equipment innovation for PepsiCo's businesses throughout Asia. 

The new facility is equipped with an advanced culinary center and test kitchens focused on developing and tailoring PepsiCo food and beverage brands for distinct, locally relevant taste preferences throughout the region. In addition, the facility will house a pilot manufacturing plant that will allow researchers to quickly test new product ideas and support efforts to significantly accelerate the pace of PepsiCo's innovation in China and other growing Asian markets. 

It is one of PepsiCo's most integrated food and beverage R&D centers anywhere in the world, a combination that is designed to unlock new opportunities for breakthrough innovation across the company's diverse portfolio of complementary brands and enable greater speed and efficiency throughout the entire R&D process. The new Shanghai facility will also work collaboratively with other PepsiCo R&D locations around the world to share insights and best practices. 

"Innovation has always fueled PepsiCo's growth engine and enabled us to build a portfolio of great-tasting, convenient food and beverage brands that are loved by consumers around the globe," said Saad Abdul-Latif, CEO, PepsiCo Asia, Middle East & Africa. "The Shanghai facility is a game-changer for our business that we expect will fast forward our innovation throughout the entire region." 

The new R&D center was built in line with the criteria established by Leadership in Energy and Environmental Design (LEED), the world's leading green building standard, and uses advanced technologies and processes to conserve natural resources and reduce operating costs. 

PepsiCo is a global food and beverage leader with net revenues of more than $65 billion. PepsiCo has a strong portfolio of global food and beverage brands that includes 22 brands that generate more than $1 billion each in annual retail sales. A key focus of the PepsiCo Asian R&D center will be tailoring these brands for regional consumer taste preferences and developing locally relevant new products

China and the Asia Pacific region are key components of PepsiCo's overall plan to drive growth in emerging and developing markets globally. PepsiCo nearly tripled its business in emerging and developing markets from $8 billion in annual net revenue in 2006 to $22 billion in 2011

Source: PepsiCo