US: PepsiCo deflects Pershin kvas acquisition talk
PepsiCo has stayed silent on speculation suggesting it is looking to buy a kvas brand in Russia.
Local news service Novecon said yesterday (13 June) that the drinks giant is in talks to buy Pershin in the country. PepsiCo has been handling distribution of the brand for several months, Novecon claimed.
When contacted by just-drinks today (14 June), however, a spokesperson for the US company would not be drawn on the reports. "We don't comment on media speculation," the spokesperson said. "Russia is a very important market for us and offers opportunities for long-term growth, but we cannot comment on acquisitions."
The Pershin trademark is owned by Eugene Boujele Vine, Novecon said, adding that the brand is the sixth largest in the Moscow kvas market.
Kvas is a fermented mildy alcoholic drink made from black or rye bread. At its strongest, kvas' abv is only around 1.5%.
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