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MENAFN - - 28/02/2012

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(MENAFN) Saudi Arabia's Almarai entered in talks with PepsiCo Inc to increase its 48 percent stake in a joint venture formed with the US soft drink in 2009, Arabian Business reported.

International Dairy & Juice Ltd IDJ was established to tap growth opportunities in the dairy and juice sector in Southeast Asia, Africa and the Middle East, excluding the Gulf region.

Almarai has been focusing on strengthening its presence the Gulf region. In December, the company acquired Fondomonte S.A which owns and operates farms in Argentina, to secure feed for its dairy herd and poultry businesses.

Saudi Arabia's consumer sector is attracting more international investors as the country's population rises beyond 27 million, most of which are under the age of 30.

Coca-Cola Co invested USD980 million in Saudi beverage firm Aujan Industries in December.

Carlyle Group bought 42 percent stake in Saudi Alamar Foods, which is the sole franchise operator for Domino's Pizza and Wendy's restaurants in the Middle East and North Africa.

 






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