SOMERS, N.Y. (AP) — PepsiCo Inc. and its bottler Pepsi Bottling Group Inc. said Monday it bought Russian beverage company Sobol-Aqua JSC through a joint venture.
The financial terms of the deal were not disclosed.
The deal is expected to close in the second quarter of 2008.
The joint venture, called PR Beverages Ltd., will buy all of privately held Sobol, including a production facility in Novosibirsk, Russia, that makes Sobol brands and co-packs various Pepsi products.
Pepsi Bottling Group Chief Executive Eric Foss said the deal ''jumpstarts our manufacturing presence in the region'' and allows the company to expand into Siberia and Eastern Russia.