PepsiCo, one of the world’s largest food and beverage companies, announced today that it plans to invest US$1 billion in Russia over three years, together with its partner The Pepsi Bottling Group (PBG).
The investment will bring the cumulative investment in Russia by PepsiCo and PBG to over $4 billion and is consistent with PepsiCo’s ongoing strategy to expand in emerging markets.
Indra Nooyi is in Russia this week to open a new bottling plant outside Moscow, to join a meeting of business leaders convened by Presidents Medvedev and Obama and to mark 50 years since Pepsi-Cola was introduced in Moscow at the 1959 American National Exhibition.
The investment in Russia is funding various programs to expand manufacturing and distribution capacity. In addition to the new beverage facility opening this week in Domodedovo, a new snacks manufacturing plant is expected to open later this year in the southern city of Azov. PepsiCo and PBG also are planning significant investments to build a state-of-the-art warehousing and distribution infrastructure for the Lebedyansky juice business. In 2008, PepsiCo and PBG invested approximately $2 billion to acquire Lebedyansky, Russia’s leading branded juice company.
Read the full Press Release here at PepsiCo.com