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PepsiCo (NYSE:PEP): Closing price $75.48
On November 1st, PepsiCo’s bottling arrangement, a non-compete clause in its contract with its partner in Thailand, expired. The next day, Serm Suk, backed by the billionaire owner of Thai Beverage, Charoen Sirivadhanabhakdi, launched its own soft drink that has pretty much replaced Pepsi on store shelves. The new soda called “est” brought 19 percent of Thailand’s $1.8 billion cola market in just two months following its debut. Worse for PapsiCo, its breakup with its bottler caused it also to lose access to Serm Suk’s vast distribution network which delivers drinks to around 200,000 stores, restaurants and vending machines in Thailand’s market of 67 million people.
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