PEP PepsiCo Inc

   By Ben Otto 
 

Pepsi-Cola Products Philippines Inc. (PIP.PH) said it will be closing its snacks production line.

The local bottler, majority owned by South Korea's Lotte Corp. (004990.SE) and PepsiCo Inc. (PEP), said in a statement posted by the Philippine stock exchange on Tuesday that it would cease production of locally made Cheetos to focus on core business in the production and distribution of beverages in the Southeast Asian nation.

The company said PepsiCo would continue to import and sell Cheetos and other snack brands in the Philippines.

Write to Ben Otto at ben.otto@wsj.com

(END) Dow Jones Newswires

September 24, 2019 21:31 ET (01:31 GMT)

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