Carlsberg Agrees Acquisitions That Will See It Become PepsiCo Bottler in Georgia and Armenia

By Dominic Chopping

Carlsberg agreed to buy the PepsiCo bottlers in Georgia and Armenia, which when completed, will see the Danish brewer take over the production, sale and distribution of PepsiCo's soft drinks portfolio across the two countries.

The company said Monday that it has reached agreement to acquire Iberia Refreshments in Georgia and JI Pepsi Cola Bottler Armenia from Revery, the current owner of both businesses.

Iberia Refreshments and JI Pepsi Cola Bottler Armenia are the current PepsiCo bottlers in their respective markets.

Agreements for the acquisitions have been signed, with the JI Pepsi Cola Bottler Armenia deal subject to regulatory approval from the Government of Armenia, it said.

Monday's news follows a similar recent deal that will see the Danish company become the PepsiCo bottler in Azerbaijan, with the three new markets creating a strong cluster in the South Caucasus, it added.

"The expanded business will provide a strong platform to further develop a full multi-beverage portfolio across the region," said Nikos Kalaitzidakis, Carlsberg's head of Central and Eastern Europe & India.

Carlsberg will have bottling agreements with PepsiCo in 17 markets, including the U.K., Ireland, Norway, Sweden, Switzerland, Kazakhstan, Kyrgyzstan, Laos and Cambodia, as well as Denmark, Finland, Estonia, Latvia and Lithuania from 2029, Azerbaijan from 2027, and Georgia and Armenia following completion of the contemplated acquisitions.

Financial terms weren't disclosed.

Write to Dominic Chopping at dominic.chopping@wsj.com

(END) Dow Jones Newswires

October 05, 2026 04:54 ET (08:54 GMT)