Pepsi to buy majority stake in Wimm-Bill-Dann

Soft drinks maker PepsiCo has revealed that it’s buying a 66% stake in Wimm-Bill-Dann for £2.4 billion (€2.8bn).
PepsiCo says it will also seek to buy the remaining shares in the Russian dairy and fruit juice maker when the initial deal is completed.
The deal is the biggest foreign investment in Russia outside the energy sector.
“Wimm-Bill-Dann is a terrific business with significant opportunities,” says Zein Abdalla, chief executive of PepsiCo Europe.
In a statement, PepsiCo says: “The transaction will establish PepsiCo as the largest food and beverage business in Russia, make it a leader in the country’s fast-growing dairy category and build its presence in key markets in eastern Europe and central Asia.”
The firm adds that the deal will increase its annual revenues to nearly £8.3 billion (€9.8bn), putting it on course to achieve its strategic goal of building a £19.2 billion (€22.6bn) nutrition business by 2020.

Related content

Leave a reply

Food and Drink Technology