Russian cheesemaker to snap up idled PepsiCo juice business

A see demonstrates a plant of PepsiCo firm in Azov in the Rostov location, Russia March 9, 2022. REUTERS/Sergey Pivovarov

Could 4 (Reuters) – Russia has authorized the order of PepsiCo (PEP.O) owned Wimm-Monthly bill-Dann Beverages by a regional cheesemaker, the anti-monopoly company stated on Wednesday, a enterprise the U.S. foodstuff and drink giant explained it determined to sell past calendar year.

In early March PepsiCo said it was suspending gross sales of its sodas in Russia, a person of quite a few Western buyer models to halt functions in the wake of Russia’s invasion of Ukraine on Feb. 24. It will stay the owner of Wimm-Bill-Dann, a different dairy enterprise, one particular of the biggest in Russia. browse much more

Russia’s Federal Antimonopoly Provider (FAS) on Wednesday explained it accredited an software from Multipro, a Russian cheesemaker that specialises in Mozzarella for pizzas and white-rind cheeses these as Brie and Camembert, to obtain Wimm-Bill-Dann Beverages.

Foreign-owned asset product sales in Russia are in concentration as many Western corporations leave the sector above gatherings in Ukraine, offering some community companies the probability to pick up property on the low cost, but PepsiCo advised Reuters on Wednesday its determination to market the small business experienced been taken previous 12 months.

“PepsiCo decided to provide the generation web page in Ramenskoye, which has not been working due to the fact 2015 and does not make any products,” it stated in a written response to Reuters.

The site contains administrative buildings, as nicely as storage, generation and infrastructure internet sites, all of which will be taken over by the new operator, PepsiCo said.

PepsiCo, whose colas have been 1 of the number of Western items permitted in the Soviet Union prior to its collapse, stated in March it would carry on to promote each day essentials, this kind of as milk and other dairy offerings, toddler components and newborn foodstuff, in Russia.

Reporting by ReutersEditing by Elaine Hardcastle

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