The world’s largest snack-food maker, PepsiCo on 2 December 2010 agreed to buy two-thirds of Russian food company Wimm-Bill-Dann for about $3.8 billion. With the acquisition of Wimm-Bill-Dann, pepsi Co will become the biggest food and-beverage company in Russia. New York based PepsiCo offered to buy 66% of Wimm-Bill-Dann and plans to make an offer for the rest of the stake subject to government approvals. The acquisition values all of Wimm-Bill-Dann at $5.4 billion forms a part of PepsiCo’s plan to build a $30 billion nutrition business by 2020. Russia’s largest dairy company, Wimm-Bill-Dann has sales of about $2.4 billion in 12 months ending June 2010 and is reported to have doubled revenue since 2005.
PepsiCo Agreed to Buy Two-thirds of Wimm-Bill-Dann
By Jagranjosh
Mar 12, 2011, 17:11 IST
PepsiCo on 2 December 2010 agreed to buy two-thirds of Russian food company Wimm-Bill-Dann.
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