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Article: PepsiCo increases Russian presence
- Article from:
- The Boston Globe (Boston, MA)
- Article date:
- July 7, 2009
- Author:
CopyrightCopyright 2009 The Boston Globe. Provided by ProQuest LLC. (Hide copyright information)
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MILWAUKEE - Soft drink and snack maker PepsiCo Inc. disclosed
plans yesterday to boost its investment in Russia, continuing a
trend of consumer companies seeking growth in emerging markets as
their US 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 Obama opens his first official visit to Moscow.
The announcement also nearly coincides with the 50th anniversary
of the momentous "Kitchen Debate" between then-Vice President
Richard Nixon and Soviet leader Nikita Khrushchev, who clashed over
communism and capitalism and shared several ...