Russian cheesemaker to snap up idled PepsiCo juice business

A watch exhibits a plant of PepsiCo organization in Azov in the Rostov area, Russia March 9, 2022. REUTERS/Sergey Pivovarov

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May 4 (Reuters) – Russia has permitted the obtain of PepsiCo (PEP.O) owned Wimm-Bill-Dann Beverages by a regional cheesemaker, the anti-monopoly company claimed on Wednesday, a business enterprise the U.S. food stuff and consume large explained it resolved to promote very last calendar year.

In early March PepsiCo said it was suspending sales of its sodas in Russia, just one of a lot of Western client brand names to halt operations in the wake of Russia’s invasion of Ukraine on Feb. 24. It will remain the proprietor of Wimm-Bill-Dann, a independent dairy organization, a single of the greatest in Russia. study a lot more

Russia’s Federal Antimonopoly Company (FAS) on Wednesday reported it approved an software from Multipro, a Russian cheesemaker that specialises in Mozzarella for pizzas and white-rind cheeses these as Brie and Camembert, to get Wimm-Bill-Dann Drinks.

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Foreign-owned asset gross sales in Russia are in target as numerous Western corporations depart the current market more than activities in Ukraine, offering some area companies the possibility to select up belongings on the low cost, but PepsiCo instructed Reuters on Wednesday its conclusion to market the enterprise experienced been taken past 12 months.

“PepsiCo made the decision to market the creation web page in Ramenskoye, which has not been operating considering that 2015 and does not make any products and solutions,” it stated in a penned reaction to Reuters.

The internet site contains administrative properties, as effectively as storage, output and infrastructure internet sites, all of which will be taken in excess of by the new operator, PepsiCo said.

PepsiCo, whose colas had been 1 of the number of Western items permitted in the Soviet Union prior to its collapse, explained in March it would continue to sell day-to-day necessities, these kinds of as milk and other dairy choices, little one components and child foods, in Russia.

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Reporting by ReutersEditing by Elaine Hardcastle

Our Requirements: The Thomson Reuters Rely on Principles.

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