TheJakartaPost
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The Jakarta Post
As the food and beverage industry faces a persistent decline in carbonated drink sales in Indonesia that is sending Pepsi out of the market, competitor Coca-Cola is expanding its operations in the country. The famous American carbonated soft drink Pepsi will no longer be available in Indonesian stores and restaurants in the near future as its producer is to sever relations with its local partner, food giant Indofood CBP (ICBP), on Oct. 10. In an official statement on Monday, publicly listed ICBP said its subsidiary, Anugerah Indoofood Beverage Makmur (AIBM), had decided to not renew its latest five-year agreement with PepsiCo Inc. “AIBM and PepsiCo agreed to not extend the exclusive bottling agreement for commercial reasons,” ICBP spokesperson Gideon A. Putro said in the statement, which was published on the Indonesia Stock Exchange (IDX) website. Under the agreem...
