| Make foodmate.com your Homepage | Wap | Archiver
Advanced Top
Search Promotion
Search Promotion
Post New Products
Post New Products
Business Center
Business Center
 
Current Position:Home » News » Beverages & Alcohol » Beverages » Topic

PepsiCo shelves Russian drinks plant after buying Wimm-Bill-Dann

Zoom in font  Zoom out font Published: 2013-03-01  Authour: Ilya Khrennikov  Views: 26
Core Tip: PepsiCo Inc. (PEP) shelved plans to build a $140 million drinks plant in Russia after acquiring local dairy and juice producer OAO Wimm-Bill-Dann Foods in 2011.
PepsiCo Inc. (PEP) shelved plans to build a $140 million drinks plant in Russia after acquiring local dairy and juice producer OAO Wimm-Bill-Dann Foods in 2011, the company said today in an e-mailed statement.

The company announced it would build the plant in Rostov region, southern Russia, in 2010. The plan was “delayed indefinitely” after PepsiCo bought Will-Bill-Dann, becoming Russia’s largest food and beverage producer, spokesman Sergey Glushkov said in the statement.

After the acquisition, PepsiCo has 40 production units in Russia and ex-Soviet states and needs to develop them, Glushkov said. The company plans to invest “several hundreds of millions of dollars” to develop in Russia, Zein Abdalla, then-chief executive officer for PepsiCo Europe, said last year. Abdalla became president of PepsiCo in September.

PepsiCo acquired 66 percent of Wimm-Bill-Dann in 2011 for $3.8 billion from Russian controlling owners and then bought out minorities.

 
 
[ News search ]  [ ]  [ Notify friends ]  [ Print ]  [ Close ]

 
 
0 in all [view all]  Related Comments

 
Hot Graphics
Hot News
Hot Topics
 
 
Powered by Global FoodMate