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PEPSI-COLA AND THOMAS J. LIPTON COMPANY FORM STRATEGIC ALLIANCE; JOINT VENTURE COMBINES NO. 1 TEA WITH PEPSI DISTRIBUTION SYSTEM

 PEPSI-COLA AND THOMAS J. LIPTON COMPANY FORM STRATEGIC ALLIANCE;
 JOINT VENTURE COMBINES NO. 1 TEA WITH PEPSI DISTRIBUTION SYSTEM
 SOMERS, N.Y., Dec. 3 /PRNewswire/ -- Pepsi-Cola Company and Thomas J. Lipton Company, Englewood Cliffs, N.J., today announced the creation of a new joint venture to develop and market new tea-based beverages for the U.S. consumer market and to expand distribution of existing Lipton ready-to-drink (RTD) products.
 The joint venture will begin operation in January 1992 with new product development beginning immediately. Distribution of existing Lipton RTD products through Pepsi-Cola bottlers will be phased in through 1993. In connection with the agreement, Pepsi-Cola International and Unilever, Lipton's parent company, will be exploring international affiliations on a market-by-market basis.
 "Pepsi-Cola will be a total beverage company," said Craig E. Weatherup, president and CEO of Pepsi-Cola North America. "By combining Pepsi's distribution system with Lipton's leadership in the tea category, we're creating a company that can't miss."
 "Lipton has been satisfying tea drinkers for more than 100 years," said Blaine Hess, Lipton president and CEO. "Our partnership with the world's best soft drink company will help us leverage the popularity of teas and expand the category with new and exciting products. We're going to make Lipton teas as widely available as Pepsi."
 Pepsi and Lipton are two of the best-known names in the beverage industry. The two companies annually sell more than $11 billion worth of beverages worldwide.
 Lipton is the top selling tea in the United States. Lipton's tea products include tea bags, herbal teas, flavored teas, powdered tea mixes, and RTD tea in 12-ounce cans.
 "Anytime a person reaches out for a beverage, we'll be there," said Weatherup. "Strategic alliances like Pepsi and Lipton make good business sense, especially in light of the country's changing demographics."
 Sheldon Roesch, Pepsi's vice president, new business and packaging, has been appointed vice president and general manager of the joint venture, which has yet to be named. Lipton Vice President Richard Kundrat will head up the marketing and sales functions.
 In addition to its tea products, Thomas J. Lipton Company manufactures and sells a wide variety of popular Lipton brand side dish and soup products, Wishbone salad dressings, Lawry's seasoning blends, Good Humor and Popsicle novelties, Sunkist brand fruit snacks, Tio Sancha Mexican foods, Wyler's powdered soft drinks and Knox gelatine.
 Pepsi-Cola is a division of PepsiCo, Inc. (NYSE: PEP). Pepsi-Cola manufactures, markets and distributes America's favorite soft drinks including Pepsi, Diet Pepsi, Caffeine Free Pepsi and Caffeine Free Diet Pepsi, Mountain Dew, Diet Mountain Dew, Lemon Lime Slice, Mandarin Orange Slice, Mug Root Beer and Mug Cream Soda.
 -0- 12/3/91
 /NOTE TO EDITORS: Photo to be transmitted on INS Network/
 /CONTACT: Gary Gerdemann of Pepsi-Cola Company, 914-767-6672; David W. St. Clair of Thomas J. Lipton Company, 201-894-7777; or John T. Gould Jr. of Unilever United States, Inc., 212-906-4694/
 (PEP) CO: Pepsi-Cola Company; Thomas J. Lipton Company ST: New York, New Jersey IN: FOD SU: JVN


GK -- NY036 -- 8720 12/03/91 11:30 EST
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Copyright 1991 Gale, Cengage Learning. All rights reserved.

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Date:Dec 3, 1991
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