BEVERAGE company Pepsi-Cola Products Philippines, Inc. (PCPPI) will no longer be producing Cheetos, a popular snack product.
In a disclosure on Friday, the listed manufacturer said that it would halt production of its snack line to zoom in on its beverage business instead.
Pepsi-Cola said that its board of directors gave “approval [for] the discontinuation of the snacks portfolio to focus on and strengthen the Company’s core business lines.”
In 2015, US-based PepsiCo and its local partner PCPPI agreed to manufacture and distribute snack brand Cheetos in the Philippines. Production began during the fourth quarter of the same year.
PCPPI is the second snacks franchise of PepsiCo in the world.
The first was is Bangladesh. TYRONE PIEDAD