UM, Coca-Cola Ticket Promotion Pulled PepsiCo CEO Backs Goodell Amid Scandals Pepsi Promo Offers Fans Free 49ers Tix Weekend Plans With PepsiCo's Amanda Helm Dew Tour Amateur Event Headed To Europe Coke Leery Of Pepsi Ads Near Daytona Brands Active Around World Cup Despite Protests Coke Goes Big With World Cup Campaign MLB, PepsiCo Announce Multiyear Extension PNC Park Switching From Pepsi To Coca-Cola
Upcoming Conferences and Events
SBD/4/Sponsorships Advertising Marketing
COLA WARS OVER THE SOUTH AFRICAN MARKET
Published October 4, 1994
PepsiCo announced plans to invest $5M in a partnership to form a South African bottling venture, New Age Beverages. The partnership will include $15M in investment from a dozen "prominent" African-Americans, including Shaquille O'Neal and actor Danny Glover. South African Egoli Beverages L.P. will hold a 75% stake in New Age, and Pepsi says black South Africans will hold the majority stake by the year 2000. Coca-Cola presently holds 75% of the $1B South African soft drink market. Coca-Cola emphasizes that its own joint bottling venture is not only managed by black South Africans, but 50% owned by black South Africans (Cynthia Mitchell, ATLANTA CONSTITUTION, 10/4).