Russian food and beverage group Lebedyansky is set to be split in two following PepsiCo’s US$1.4bn takeover of its juice business.
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Lebedyansky, which makes baby food and mineral water for the Russian market, is also the country’s largest juice manufacturer.
This morning (20 March), PepsiCo announced that it and one of its bottlers, Pepsi Bottling Group, had signed a deal to jointly acquire a 75.53% stake in Lebedyansky’s juice business.
The deal is subject, in part, to the spin off of Lebedyansky’s baby food and mineral water operations to its existing shareholders.
The baby food and mineral water business, which includes Lebedyansky baby food Lipetsky Buvet water, will become a stand-alone unit.
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By GlobalData
