BUSINESS BRIEFING / BEVERAGES
Times Wire Reports
Soft drink maker PepsiCo Inc. announced plans 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., Purchase, N.Y.-based PepsiCo plans to invest an additional $1 billion in Russia over three years, taking the partnership’s Russia stake above $4 billion.
Pepsi in 1974 became the first Western consumer product to be made and sold in the Soviet Union.
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