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MILWAUKEE — Soft-drink and snack maker PepsiCo Inc. announced plans Monday to boost its investment in Russia, continuing a trend of consumer companies seeking growth in emerging markets as their U.S. sales soften.
With its largest bottler, Pepsi Bottling Group Inc., PepsiCo plans to invest another $1 billion in Russia over three years, taking the partnership’s Russia stake above $4 billion just as President Barack Obama opens his first official visit to Moscow. Pepsi in 1974 became the first Western consumer product to be made and sold in the Soviet Union.
PepsiCo chairman and chief executive Indra Nooyi said in a statement that the $1 billion investment is part of a long-term strategy.
Emily Fredrix, The Associated Press
