Snack and beverage giant PepsiCo has targeted Russia as a “window of opportunity” for growth and said it now has plans to “step up several gears” in the country.
Speaking to analysts at the CAGNY conference in Florida today (18 February), Zein Abdalla, CEO of PepsiCo Europe, said that while it was more than 90% self-sufficient in Russia, this was “just the starting point”.
“The best is truly yet to come. We have built the largest food and beverage company from a multi-national perspective, but we believe that really is just the beginning. There is a window of opportunity now to build a defining consumer goods company in Russia, not just by building brands and portfolios but by fleshing out the backbone across the business system in Russia and a truly advantaged business model,” Abdalla said.
He added that PepsiCo sees “opportunities” for snack and beverage growth in Russia, but it will need to be done in a “planful” way.
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