Pepsi j.v. completes Russian juice acquisition
August 28, 2008
by FoodBusinessNews.net Staff
MOSCOW — PepsiCo and The Pepsi Bottling Group have completed a joint acquisition on 75.53% in JCS Lebedyansky, a Russian juice company.
"We’re looking forward to building Lebedyansky’s portfolio of strong, popular brands in one of the world’s fastest-growing juice markets," said Michael White, PepsiCo International chief executive officer and vice-chairman for PepsiCo. "It’s yet another way we’re transforming our product lineup to include more beverages and foods that address the growing consumer interest in health and wellness."
The Pepsi companies will begin a mandatory offer for the remaining shares of Lebedyansky in the near future. The acquisition does not include the company’s baby food and mineral water businesses, which were previously spun off to shareholders.
The Pepsi companies have made the acquisition through a joint venture owned 75% by PepsiCo and 25% by The Pepsi Bottling Group.