PepsiCo (PEP) and Pepsi Bottling Group (PBG) to Invest $1 Billion In Russia
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PepsiCo (NYSE: PEP) announced that it plans to invest $1 billion in Russia over three years, together with its partner The Pepsi Bottling Group (NYSE: PBG).
The investment will bring the cumulative investment in Russia by PepsiCo and PBG to over $4 billion and is consistent with PepsiCo's ongoing strategy to expand in emerging markets.
"I am delighted to announce that over three years we expect to invest $1 billion in our beverage and food businesses in Russia," said PepsiCo Chairman and Chief Executive Officer Indra Nooyi. "This investment reflects very clearly our great confidence in Russia and our long-term commitment to this very important market."
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