Pepsico will invest $100 million in China.

Pepsico, which licenses production of Pepsi-Cola and other soft drinks in nearly 150 countries, said it is prepared to invest more than $100 million to help China develop its soft-drink industry. Pepsico is holding its board meeting today in Canton to mark the opening of a bottling plant built and managed by the Chinese. The meeting comes amid reports that Pepsico has reached an agreement to buy Seven-Up, a unit of Philip Morris and the third-largest soft-drink producer, for about $400 million.

Copyright © 2019, Los Angeles Times
EDITION: California | U.S. & World