Revery Announces Sale of PepsiCo Bottling Businesses in Georgia and Armenia to Carlsberg Group

Revery has agreed to sell its PepsiCo bottling businesses in Georgia and Armenia to Carlsberg Group. Under the agreements, both Iberia Refreshments in Georgia and JI Pepsi Cola Bottler in Armenia will continue the production, sale and distribution of PepsiCo brands, as well as their own local brands. JI Pepsi Cola Bottler Armenia will also continue the distribution of PepsiCo snacks.

Revery’s partnership with PepsiCo began over ten years ago in Armenia followed by Georgia. Over that time, despite very difficult market conditions, Revery transformed the businesses, establishing strong platforms, capabilities and teams in both markets. The transaction is driven by PepsiCo’s strategy to consolidate the Caucasus region under one bottler and reflects the quality of the businesses developed by Revery and their potential for continued growth in these markets.

“We are very proud to have started Revery’s journey in the food & beverages industry in Armenia and Georgia, but personally I am most proud of the people who have become some of the best managers and employees in the region over the years. They will be invaluable in driving further growth under Carlsberg’s ownership, who have extensive experience operating PepsiCo bottling businesses and a strong portfolio to bring new and exciting brands to the region. I would also like to thank PepsiCo, for their unwavering and continued support, and wish them all the best under the new custodians of their brands,” said Hayk Sarkissian, Founder and Executive Chairman of Revery.