PepsiCo invests US$41M to expand concentrate manufacturing capabilities in Ireland
IRELAND – PepsiCo, the owner of Pepsi, 7Up, and Mountain Dew soft drink brands, is investing €39 million (US$41.04 million) for expansion of its manufacturing facilities in Ireland.
The announcement was made in the presence of Brian Colgan, PepsiCo’s Little Island site director, Simon Coveney, the Minister for Enterprise, Trade, and Employment, and Michael Lohan, CEO of the Investment Development Agency (IDA), Ireland.
This follows a previous investment of €127 million (US$133.66 million) in the same site and adjacent R&D facilities earlier this year, demonstrating PepsiCo’s commitment to its Irish operations.
Majority of the investment – €36.6 million (US$38.52 million) – has been earmarked for the establishment of a new concentrate manufacturing facility to produce a concentrate of its global brands, including Pepsi, Pepsi Max, Gatorade, 7Up, and Mountain Dew.
This will help meet increased demand for existing PepsiCo products and contribute to PepsiCo’s global innovation pipeline.
“This latest investment will provide additional capacity for the markets we serve, enhance production capability, and further reinforce the strong sustainability credentials of our site in Little Island,” said Brian Colgan, PepsiCo’s Little Island site director.
The remainder, a paltry €2.4 million (US$2.52 million) will be used to install an 1820kW solar PV at the Little Island facility, expected to be completed in Q4 2023.
The installation will have the peak capacity to provide 100% of the plant’s electrical demand, and over the course of a year, the solar panels will provide 22% of the electricity required by the site.
The solar PV installation will not only reduce power consumption but will also reduce the carbon footprint at the site.
PepsiCo’s significant investment in its Irish operations and its move towards green energy are positive indicators of the company’s long-term strategy.
The company is optimistic that the expansion will not only boost the company’s manufacturing capacity but also contribute to Ireland’s economy by providing new job opportunities.
“This latest multi-million-euro investment by PepsiCo, the second this year, reinforces its commitment to Ireland and to Cork,” Simon Coveney, the Minister for Enterprise, Trade, and Employment emphasized.
“The company’s positive impact on the Irish economy since it first established a presence here in 1974 is hugely significant.”
Michael Lohan, CEO of the Investment Development Agency (IDA), Ireland, on his part, expressed enthusiasm, saying the new investments mirror IDA Ireland’s current strategy Driving Recovery and Sustainable Growth 2021 – 2024.
The company currently has approximately 100 vacancies in Cork and employs more than 1,250 people in Ireland. With the additional investment, the company is poised to continue increasing its operations personnel at the plant to support growth.
