By Sam Boughedda
PepsiCo (NASDAQ:PEP) announced Wednesday that it will build a new state-of-the-art manufacturing facility after acquiring nearly 152 acres of land at the Denver High Point development area.
The 1.2 million square foot facility is set to open in the summer of 2023 and is the company's latest project as part of its near 75-year investment in Denver, which includes its River North Art District location. The location was selected after a lengthy process that saw the company look at four states as potential locations.
The new facility will hold three times the capacity of the current facility, producing products such as Pepsi, Gatorade, bubly, Rockstar, Propel, and Muscle Milk. It will be the company's largest U.S. plant location, creating nearly 250 new jobs in the Denver area and retaining all 250 current employees.
"We're thrilled to call Denver, a city that shares so many of our values, home to PepsiCo's most sustainable U.S. plant location," said PepsiCo Beverages North America's West Division President, Johannes Evenblij. "With the High Point facility serving a model for the future of PBNA's supply chain, we're eager to continue deepening our dedication to Colorado through positive impacts such as new job opportunities and more sustainable business solutions."
PepsiCo reported earnings Tuesday, beating profit and revenue expectations and raising its revenue outlook for the year as consumers paid more for its products.