PepsiCo Enters U.S. Dairy Market with Yogurt

PepsiCo, Inc. and Theo Muller Group (Muller), a privately held dairy business in Germany, announce their U.S. joint venture, Muller Quaker Dairy, will enter the growing U.S. dairy market in mid-July with innovative premium yogurt products that have never before been available to U.S. consumers. These products -- Muller Corner, Muller Greek Corner and Muller FrutUp -- mark the first entry by either PepsiCo or Muller into U.S. dairy aisles.

 

"As we've seen through the success of our dairy business in other parts of the world, this is a category with strong growth prospects," says Mehmood Khan, M.D., PepsiCo chief scientific officer, global research & development. "Muller makes some of Europe's most delicious and unique dairy products, and there is no better partner PepsiCo could have in order to meet historic U.S. consumer demand for premium yogurt. With the name recognition and trust Quaker provides, together, we will be able to offer U.S. consumers an amazing range of products that taste delicious and are unlike anything on the market currently."

 

Together, PepsiCo and Muller will complement each other's strengths and are expected to drive growth for both companies.

 

PepsiCo already holds a strong position in the global dairy products business. The company acquired Wimm-Bill-Dann, Russia's largest dairy company, in 2011 and has been part of a successful joint venture with Almarai, Saudi Arabia's largest dairy company, since 2009. PepsiCo has a previously stated goal of growing its global nutrition portfolio to $30 billion in revenue by 2020.