The initiative will see the opening of an additional manufacturing capacity and further investment in its research and development campus.
Over the last two years, the facility has increased its staff by more than 20%, with 642 out of its total Irish workforce of approximately 1,250 team members based in the Little Island, Cork campus.
The investment in the campus has provided employment to over 700 professionals as PepsiCo’s contracting and vendor partners during the design and construction phase.
Brian Colgan, site lead at PepsiCo Little Island said, "We have called Cork home for almost 50 years, and our longevity is a testament to the dedication of our talented workforce.
"This very significant expansion will allow us to increase our manufacturing capacity and ensure that we can continue to meet the global demand for our existing and future products."
The expansion will help the company boost manufacturing capacity across its range of beverage ingredients, support increased demand for existing PepsiCo products, and help bring PepsiCo's innovation pipeline to its global customer base.
The research and development campus in Little Island supports beverage development, product research, testing and commercialisation, quality assurance, and regulatory management.
Recently, it has facilitated the creation of a global R&D Digital Engineering team to drive digital transformation for PepsiCo.
“This latest investment in our R&D campus delivers state-of-the-art laboratories for several quality and research teams and a new contemporary digital solutions suite,” said Breda Kennedy, R&D senior director at PepsiCo.
"Investment in our business has driven the growth of our R&D team, from just 10 people in 2007 to more than 130 today. This continued investment will further strengthen our ability to attract the best talent across digital, engineering, analytics, food science, sensory and microbiology," Kennedy added.