BY JULIAN RICHARDSON Assistant Business Co-ordinator firstname.lastname@example.org
THE head of Pepsi Cola Jamaica and Red Stripe's joint venture has left the company to assume the role of head of trade marketing at Pepsi Mexico.
Gustavo Flamenco made the move after three years in Jamaica, during which he oversaw a major expansion drive by Pepsi Jamaica, where he served as commercial director, and the launch of Celebration Brands Limited (CBL), the joint distribution firm between Pepsi and brewing company Red Stripe.
Pepsi Jamaica general manager Miguel Alameda will assume the role of head of CBL, the company informed the Business Observer yesterday.
"Pepsi Jamaica wishes Mr Flamenco all the best and looks forward to the fresh approach that Alameda will bring," the company said.
An industrial engineer with many years of experience in sales and distribution, Flamenco led the US$10-million production capacity upgrade at Pepsi's manufacturing plant in Kingston, as the multinational beverage giant looked to grow its presence on the island.
Pepsi Cola Jamaica and Red Stripe joined forces in January to form CBL, claimed to be the largest beverage distribution company locally, for which Flamenco was appointed managing director.
The 50/50 joint venture, responsible for selling and distributing all of Red Stripe and Pepsi Jamaica brands, is expected to add significant efficiencies to both companies' route to market network.
CBL made $23.8 million in profit from $1.8 billion in revenue during the three months to June 30 while Red Stripe's domestic revenue climbed 14 per cent from $1.87 billion (excluding sales tax) for the three months to June 30, 2012 to $2.1 billion during the review period.
Pepsi Cola Jamaica, which is not a publicly listed company, did not disclose its financial performance for the three-month period — the first quarter of operations for the joint venture.
Celebration Brands employs 700 Jamaicans, some coming from both companies, with an estimated 200 new jobs created under this structure.
Pepsi Mexico's market is about 50 times the size of Jamaica's.