Russian cheesemaker to snap up idled PepsiCo juice business

A watch displays a plant of PepsiCo company in Azov in the Rostov region, Russia March 9, 2022. REUTERS/Sergey Pivovarov

May 4 (Reuters) – Russia has approved the acquire of PepsiCo (PEP.O) owned Wimm-Monthly bill-Dann Beverages by a regional cheesemaker, the anti-monopoly company stated on Wednesday, a business enterprise the U.S. food stuff and consume large mentioned it made a decision to provide past 12 months.

In early March PepsiCo mentioned it was suspending profits of its sodas in Russia, a person of several Western shopper brands to halt operations in the wake of Russia’s invasion of Ukraine on Feb. 24. It will continue being the owner of Wimm-Invoice-Dann, a independent dairy enterprise, one particular of the most significant in Russia. read extra

Russia’s Federal Antimonopoly Assistance (FAS) on Wednesday stated it approved an application from Multipro, a Russian cheesemaker that specialises in Mozzarella for pizzas and white-rind cheeses this kind of as Brie and Camembert, to acquire Wimm-Monthly bill-Dann Drinks.

International-owned asset income in Russia are in emphasis as a lot of Western firms depart the sector about gatherings in Ukraine, providing some nearby corporations the chance to pick up property on the low-cost, but PepsiCo explained to Reuters on Wednesday its choice to sell the business experienced been taken previous 12 months.

“PepsiCo decided to provide the manufacturing web-site in Ramenskoye, which has not been performing given that 2015 and does not make any items,” it stated in a published reaction to Reuters.

The web site features administrative properties, as very well as storage, output and infrastructure websites, all of which will be taken more than by the new owner, PepsiCo stated.

PepsiCo, whose colas have been just one of the handful of Western products authorized in the Soviet Union prior to its collapse, mentioned in March it would carry on to market everyday essentials, this sort of as milk and other dairy offerings, child system and toddler food items, in Russia.

Reporting by ReutersEditing by Elaine Hardcastle

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