RUSSIA: PepsiCo unveils Russian investment
PepsiCo today (6 July) announced that it plans to invest US$1bn in Russia over the next three years in a bid to grow its food and beverages businesses in the market.
"I am delighted to announce that over three years we expect to invest $1bn in our beverage and food businesses in Russia," said PepsiCo chairman and CEO Indra Nooyi.
Speaking during her tour of Russia to mark Pepsi-Cola's 50th anniversary in the market, Nooyi reaffirmed PepsiCo's commitment to expansion Russia.
"This investment reflects very clearly our great confidence in Russia and our long-term commitment to this very important market," she said.
The investment, which is being made together with its partner The Pepsi Bottling Group (PBG), will bring the US snack giant's cumulative investment in Russia to over $4bn.
The company said that the investment would be used to expand its manufacturing and distribution capacity, including the opening of a new snacks manufacturing plant in Azov.
PepsiCo added that, as the largest private user of potatoes grown in Russia, the company plans to continue to invest in local agriculture in order to drive productivity and quality standards.
Frito-Lay, the snack unit of US food giant PepsiCo, has announced plans to expand its TrueNorth line of natural nut snacks....
Lion Capital is preparing to sell upmarket chip maker Kettle Foods for around US$700m, according to reports....
US snack and soft drink giant PepsiCo has lowered its sales and earnings outlook for the full year as it steps up investments in driving growth and profitability....
PepsiCo has announced plans to open a research and development facility that will focus on the development of healthier products....
Hershey and Nestle will not "willingly stand by" and become less competitive in the global confectionery market - and could still launch a rival bid for Cadbury, one analyst has suggested....
President Obama has made tackling childhood obesity and nutrition a key priority. The FDA's recent announcement on nutritional labelling demonstrates the administration's willingness to act in areas w...
All eight US food manufacturers participating in the Smart Choices Program labelling scheme have agreed to drop the logo from their products amid claims the label could mislead consumers....
US cereal giant Kellogg said today (29 October) that it expects its performance in the US cereal category to remain strong for the remainder of the year and into fiscal 2010....
- Does Kraft Heinz want to swallow Unilever whole?
- Focus: Nestle CEO plan to balance sales, earnings
- Will Kellogg's DSD exit help it grow in US snacks?
- Comment: Meal kits in US - don't believe the hype
- Is Mondelez's margin target hurting sales?
- Nestle plans restructuring as 2016 profit misses
- Kraft Heinz pursuing Unilever in takeover move
- Kraft Heinz returns to organic growth, ups margins
- Danone eyes efficiency, agility with new structure
- General Mills issues profit warning