PepsiCo has announced plans to expand its presence in Mexico with a $4 billion investment spanning through 2020.
The Purchase-headquartered company is looking to create 3,000 new jobs in Mexico and will construct a production plant in Guanajuato, its first new Mexican facility in two decades.
PepsiCo is also working with its regional partner Grupo Gepp on a $1 billion effort to improve the sourcing of raw materials used for its snack food products, as well as renovating its Agricultural Development Center in Mexico that supplies the company with potato seeds.
“Mexico is our largest operation in Latin America and our second largest worldwide,” said Ramon Laguarta, CEO of PepsiCo. “It is an honor for us to have a positive impact at all levels of the country’s economy, from the countryside to the corner stores in each location.”