Carlsberg to buy PepsiCo bottlers in Georgia and Armenia, expanding its partnership to 17 markets
Carlsberg Group has signed agreements to purchase the PepsiCo bottling businesses operating in Georgia and Armenia. The acquisitions, subject to regulatory clearance in Armenia, will make Carlsberg responsible for producing, selling and distributing PepsiCo soft‑drink brands in both countries. After the deals close, Carlsberg’s bottling footprint with PepsiCo will cover 17 markets across Europe, Central Asia and Southeast Asia. Executives from both companies said the expansion will strengthen their regional route‑to‑market and support growth.
Why it matters
The company says the added markets will create a South Caucasus cluster that can leverage shared production and distribution capabilities, potentially improving margins and cash flow. Analysts note that the move broadens Carlsberg’s non‑alcoholic beverage exposure, which could diversify revenue streams.
Key facts
- 1Carlsberg will acquire the PepsiCo bottling operations in Georgia and Armenia from the current owner Revery. marketscreener.com
- 2The acquisitions are pending regulatory approval from the Government of Armenia. marketscreener.com
- 3When completed, Carlsberg’s PepsiCo bottling agreements will span 17 markets. marketscreener.com
- 4Carlsberg expects the new South Caucasus cluster to enhance its production, sales and distribution platform. foodanddrinktechnology.com
- 5Soft drinks represented about 30% of Carlsberg’s group delivery volumes in the prior year. just-drinks.com
- 6Carlsberg reported 2.7% sales growth in the first half of 2026, with soft drinks accounting for roughly 31% of volumes. drinks-intel.com
Open questions
- Financial terms of the acquisitions were not disclosed in any material.
Summary written by AlphAI from 15 of 15 sources. Not investment advice. Figures are as stated by the linked sources.