Pepsi to acquire Russian beverage manufacturer
March 17, 2008
by FoodBusinessNews.net Staff
SOMERS, N.Y. — The Pepsi Bottling Group, Inc. and PepsiCo, Inc. have reached an agreement through their Russian joint venture to acquire 100% of the privately-held shares of Sobol-Aqua JSC, a beverage manufacturing company in Russia.
"One of our top priorities is to fully capitalize on growth potential in Russia," said Eric Foss, president of the Russian joint venture, which is known as PR Beverages Ltd. "The Sobol acquisition jumpstarts our manufacturing presence in the region and facilitates our expansion into Siberia and Eastern Russia. This investment will help our joint venture unlock new growth opportunities and position us well for continued success."
Once the transaction closes, which is expected to be in the second quarter of this year, the joint venture will acquire the entire Sobol-Aqua business. This includes a production facility in Novosibirsk, Russia, that manufactures Sobol-Aqua brands and co-packs various Pepsi products.
Financial terms of the deal were not released.