PepsiCo, Coca-Cola still sparkle in Mexico after fizzy drinks tax

07/07/16 CNBC

Coca Cola BottlesFlat beverages are helping overall sales at Coca-Cola Co and PepsiCo Inc stay fizzy in Mexico despite a tax on sodas.

As Mexico moved toward implementing a soda tax to combat soaring rates of obesity and diabetes three years ago, the beverage industry fought back hard, warning that sales in the world’s No. 2 consumer of sugary drinks could take a hit.

But more than two years later, PepsiCo and Coca-Cola have found ways to prosper in Mexico thanks to alternative beverages and resilient demand, a Reuters review of corporate filings and executive comments shows.

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