Russian Cheesemaker to Snap up Idled PepsiCo Juice Business | Investing News

(Reuters) – Russia has authorized the order of PepsiCo owned Wimm-Bill-Dann Drinks by a local cheesemaker, the anti-monopoly company stated on Wednesday, a business the U.S. food stuff and drink huge claimed it made a decision to promote very last year.

In early March PepsiCo reported it was suspending product sales of its sodas in Russia, one particular of numerous Western shopper brands to halt functions in the wake of Russia’s invasion of Ukraine on Feb. 24. It will remain the proprietor of Wimm-Bill-Dann, a independent dairy business enterprise, a person of the greatest in Russia.

Russia’s Federal Antimonopoly Support (FAS) on Wednesday claimed it permitted an software from Multipro, a Russian cheesemaker that specialises in Mozzarella for pizzas and white-rind cheeses these as Brie and Camembert, to obtain Wimm-Bill-Dann Beverages.

Overseas-owned asset product sales in Russia are in target as many Western organizations depart the market more than occasions in Ukraine, supplying some regional corporations the probability to decide on up belongings on the low-priced, but PepsiCo instructed Reuters on Wednesday its determination to offer the organization experienced been taken final year.

“PepsiCo made a decision to promote the production website in Ramenskoye, which has not been functioning given that 2015 and does not make any merchandise,” it said in a published response to Reuters.

The web site contains administrative structures, as very well as storage, creation and infrastructure web pages, all of which will be taken about by the new operator, PepsiCo claimed.

PepsiCo, whose colas ended up a person of the handful of Western products permitted in the Soviet Union prior to its collapse, explained in March it would continue to sell daily essentials, these types of as milk and other dairy choices, toddler formulation and toddler food, in Russia.

(Reporting by ReutersEditing by Elaine Hardcastle)

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