Carlsberg is set to handle the bottling of PepsiCo products across South Caucasus after signing new arrangements with Armenia and Georgia.
The deal will see the Danish brewing giant take over the production, sale and distribution of the PepsiCo soft-drinks portfolio in both markets. Carlsberg has reached an agreement to acquire the PepsiCo bottlers in each market, Iberia Refreshments in Georgia and JI Pepsi Cola Bottler Armenia, from investment firm Revery Group.
Carlsberg, which is also set to add the Republic of Azerbaijan to its network from 1 January, has now lined up bottling agreements with the soft-drinks major in 17 markets. Ten of these are already active (Cambodia, Ireland, Kazakhstan, Kyrgyzstan, Laos, Norway, Sweden, Switzerland, the UK), while agreements in Denmark, Finland, Estonia, Latvia and Lithuania are due to commence from 2029. Bottling in Georgia and Armenia is set to begin “following completion of the contemplated acquisitions”.
“We’re excited about the expansion of our long-standing partnership with PepsiCo to Georgia and Armenia,” said Nikos Kalaitzidakis, Carlsberg Group’s EVP of Central and Eastern Europe & India. “About two months ago, we announced the extension of our partnership with PepsiCo to Azerbaijan, and now we’re looking forward to accelerating the PepsiCo business and exploring additional opportunities in Georgia and Armenia.
“The expanded business will provide a strong platform to further develop a full multi-beverage portfolio across the region.”
In its second quarter, reported in August, Carlsberg saw sales slow somewhat on the fast start to 2026, with half-year sales up by 2.7%. Soft drinks accounted for 31% of total half-year volumes.
