NEW YORK, Feb. 02, 2022 (GLOBE NEWSWIRE) -- On February 1, 2022, millions around the world celebrated Lunar New Year, which in 2022 ushers in the Year of the Tiger.

For the Asian American Business Development Center (AABDC), the premier business-focused organization for the Asian American community, the Lunar New Year is an opportunity to celebrate cultural traditions and to recognize corporations that have made outstanding contributions to the community. This year, in partnership with Next shark and sponsored by Con Edison, Colgate-Palmolive and Diageo, the Lunar New Year virtual event will be streamed on the Nextshark Facebook platform on February 8^th.

In 2022, AABDC’s Lunar New Year Planning Committee has decided to present the “Distinguished Corporate Service Award” to Hennessy and PepsiCo for their long-standing support and contributions to the Asian American community.

In 2020, Hennessy contributed $4M in two phases through its Unfinished Business initiative to help Black, Asian, and Hispanic-owned small businesses with financial and educational resources to power through the challenges of COVID-19.

In 2021, PepsiCo and The PepsiCo Foundation made a $1M commitment to provide support in partnership with the Asian American Business Development Center (AABDC), the National Restaurant Association Educational Foundation (NRAEF), the National Restaurant Association (Association) and The Asian American Foundation (TAAF) in the Stronger Together community-based programs, recognizing the devastating business and social impact during the pandemic. 

“The Year of the Tiger brings messages of courage and a fighting spirit,” said John Wang, Founder and President of AABDC. “The Asian American community has endured a period of not only health risks and economic distress, but anti-Asian violence. But a new year brings new hope and optimism. We are excited to celebrate this auspicious holiday with corporate allies like Hennessy and PepsiCo.”

“Diverse communities have faced the brunt of the after-effects of the COVID-19 pandemic, and two years later, are still struggling to return to normal. Under-represented, often left out of government and financial support systems, many minority enterprises and individuals have suffered devastating losses,” said Seth Kaufman, President & Chief Executive Officer of Moët Hennessy North America.

“Faced with this reality, we set up Unfinished Business, a platform to support small business entrepreneurs with capital as well as access to information, educational content and other assets,” he added. “We are proud to accept this award on behalf of all of the dedicated associates who work every day at Hennessy to make a positive impact on communities that we live in.”

“Asian Americans play a significant role in America’s economy and are major contributors to the business community, whether as corporate professionals or small business owners,” said Ramon L. Laguarta, Chairman & Chief Executive Officer of PepsiCo.

“Our Stronger Together community-based programs leverage the expertise of PepsiCo and our partners to connect people and support communities in need,” he added. “We thank AABDC for recognizing the efforts of all of our global employees who make these partnerships succeed, and who supply urgent solutions during these difficult times.”

AABDC has played a leading role in bringing cultural traditions to the mainstream. From 1998 to 2005, it organized an annual lighting ceremony and private reception on the evening before the Lunar New Year on top of the 86th floor of the Empire State Building where various government officials were invited to present proclamations in recognition of the Lunar New Year.

“Even though the pandemic has forced us to take the Lunar New Year event online, we are excited to turn the page to a new year,” said Wang. “Asian Americans are one of the most dynamic and diverse communities in America, but also often among the least understood, and we welcome the opportunity to share our long-held traditions.”

About Hennessy
The leader in Cognac, the Maison Hennessy has shined around the world with its exceptional blends for more than 250 years. Built on founder Richard Hennessy's spirit of conquest, the brand is present in more than 130 countries. Based in the heart of the Charente region, Hennessy is also a steadfast pillar of the regional economy, the standard-bearer for a sector rich in expertise. The House's success and longevity are rooted in the excellence of its cognacs, each of which is born of a unique process of transmission from generation to generation.

The first wine and spirits house to be certified ISO 14001, Hennessy unites its capacity for innovation and the support of all of its partners to protect this exceptional area. As the crown jewel of the LVMH Group, Hennessy is a major contributor to French international trade, with 99% of production sold in export, and a worldwide ambassador for the French art de vivre.

Hennessy is imported and distributed in the U.S. by Moët Hennessy USA. Hennessy distills, ages and blends spanning a full range: Hennessy V.S, V.S.O.P Privilege, Hennessy Black, X.O, Privé, Paradis, Paradis Imperial, and Richard Hennessy. Imported Cognac Hennessy® 40% Alc./Vol. (80º), ©2020 Imported by Moët Hennessy USA, Inc., New York, NY

About PepsiCo
PepsiCo products are enjoyed by consumers more than one billion times a day in more than 200 countries and territories around the world. PepsiCo generated more than $70 billion in net revenue in 2020, driven by a complementary food and beverage portfolio that includes Frito-Lay, Gatorade, Pepsi-Cola, Quaker, Tropicana and SodaStream. PepsiCo's product portfolio includes a wide range of enjoyable foods and beverages, including 23 brands that generate more than $1 billion each in estimated annual retail sales.

Guiding PepsiCo is our vision to Be the Global Leader in Convenient Foods and Beverages by Winning with Purpose. "Winning with Purpose" reflects our ambition to win sustainably in the marketplace and embed purpose into all aspects of our business strategy and brands. For more information, visit www.pepsico.com.

About The PepsiCo Foundation  
Established in 1962, The PepsiCo Foundation, the philanthropic arm of PepsiCo, invests in the essential elements of a sustainable food system with a mission to support thriving communities. Working with non-profits and experts around the globe, we are focused on helping alleviate hunger, managing water and waste responsibly and supporting women as champions of nutrition from farm to family. We strive for tangible impact in the places where we live and work—collaborating with industry peers, local and international organizations, and our employees to affect large-scale change on the issues that matter to us and are of global importance. Learn more at www.pepsico.com/sustainability/philanthropy.

About the Asian American Business Development Center
The Asian American Business Development Center, Inc. is a 501(c) (3) non-profit organization established in 1994. It assists Asian American businesses in strengthening their capacity to compete in the mainstream market, to expand business opportunities, and to promote recognition of Asian American businesses’ contributions to the general economy. AABDC: www.aabdc.com   Outstanding 50 Awards: www.outstanding50award.com   
AABR: www.aabusinessroundtable.org

Contact Barfield Public Relations Inc at 212-736-0404 or
AABDC: info@aabdc.com, 212-966-0100

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/6ae101d7-11fc-4409-9c9a-5862679c2b59

Seth Kaufman, Hennessy

Seth Kaufman, President & Chief Executive Officer of Moët Hennessy North America.