[ad_1]
KOMPAS.com – Lays, Cheetos and Doritos brand snack production in Indonesia will stop in August 2021.
“PT Indofood Fritolay Makmur (IFL) will terminate the license agreement with PepsiCo and there is currently a six-month transition period to complete the transaction starting on February 17, 2021,” said PT’s General Manager of Corporate Communications. . Contacted Indofood Sukses Makmur Tbk, Stefanus Indrayana Kompas.com, Thursday (2/18/2020).
Stefanus said the settlement of the Lays and Cheetos transaction was still taking place during the transition period.
Also read: 8 typical Indonesian sweets that are rare, make you lose
As of August 18, 2021, PT Indofood Fritolay Makmur (IFL) will not produce Lays or Cheetos.
Previously, PT Indofood CBP Sukses Makmur Tbk (ICBP) had officially purchased all the shares owned by Fritolay Netherlands Holding BV (Fritolay), a subsidiary of PepsiCo Inc in PT Indofood Fritolay Makmur (IFL).
IFL is a joint venture between PepsiCo and ICBP that is dedicated to food and soft drinks. The two have worked together for 30 years.
“Fritolay, PepsiCo and / or other affiliated parties may not produce, package, sell, market or distribute any snack product in Indonesia that competes with IFL products for three years from the end of the transition period,” said the Corporate Secretary of Indofood CBP Sukses Makmur. Gideon A. Putro, quoted from the article Kompas.com which aired on Tuesday (2/17/2020).
Also read: End of legitimate relationships, Indofood buys all Pepsi shares in joint ventures worth IDR 494 billion
