International Dairy and Juice Limited or IDJ, a joint venture between PepsiCo Inc. (PEP) and Almarai, acquired Egypt's International Company for Agro-Industrial Projects or Beyti.
Beyti, founded in 2005, is a well recognized brand name in Egypt. It produces a range of high-quality dairy and juice products, including plain and flavored ultra-high-temperature or UHT milk, flavored yogurt, cheese and a variety of juices, in its state-of-the-art manufacturing facility.
IDJ acquired the 100% stake in Beyti from Almarai, which acquired it in October 2009 and transferred it to the joint venture at cost. This transaction follows IDJ's June 2009 acquisition of a 75% stake in Teeba, one of the leading players in the fresh dairy sector in Jordan.
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