RUSSIA: Construction begins on PepsiCo beverage plant
The plant will be PepsiCo's tenth food and beverage facility in Russia
PepsiCo has broken ground on a beverage plant in Russia, the soft drinks giant confirmed today (10 December).
The firm told just-drinks that construction on the new facility began on Wednesday, however further details on the plant have not yet been confirmed.
The plant will be PepsiCo's tenth food and beverage site in the country. The company today opened a US$110m chips plant in southern Russia as the US group, which last week agreed to buy local dairy giant Wimm-Bill-Dann, presses on with expansion in the country.
PepsiCo will buy a 66% stake in Wimm-Bill-Dann, the largest dairy producer in Russia and the CIS, for US$3.8bn.
Should the transaction get regulatory approval, PepsiCo will then have to make an offer for the rest of Wimm-Bill-Dann's shares under Russian securities laws. PepsiCo stands to end up paying $5.4bn for the whole business.
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