U.S. companies PepsiCo and Ocean Spray have made a strategic alliance in Latin America, which will give Pepsi exclusive rights to manufacture and distribute its partners' cranberry and blueberry-based beverages in the region.

A release said Pepsi will carry out the operations through its Latin America beverages division, while the companies will share marketing responsibilities and collaborate on product innovation.

"We see tremendous opportunities to grow our beverage business in emerging markets throughout Latin America, and we continue to take steps to strengthen our brand portfolio through product innovation, marketing and strategic partnerships," said Pepsi's Latin America beverages division Luis Montoya.

"Ocean Spray is already a great PepsiCo partner in the U.S., and we believe this will be a winning combination for Latin American consumers and customers.  It positions us well to continue to gain share of the growing juice category."

Montoya's bullishness on Latin American opportunities was echoed by Ocean Spray's COO of global partner operations Stewart Gallagher.

"We are eager to continue building on our successful partnership with PepsiCo, as it will help us expand consumer access to Ocean Spray products in important international markets like Latin America," he said.

"We believe this is a great opportunity to further promote and deliver the health and nutrition benefits of the cranberry to consumers in Latin America."

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