Russia's FAS permits Multipro TC to acquire Wimm-Bill-Dann Beverages from PepsiCo

MOSCOW. May 4 (Interfax) - Russia's Federal Anti-Monopoly Service (FAS) has approved the request of Multipro TC to acquire Wimm-Bill-Dann Beverages from PepsiCo Inc. , the watchdog said in a statement.

According to the FAS's statement, the deal would not restrict competition on the foodstuffs market.

Wimm-Bill-Dann Beverages is currently an entity of PepsiCo Inc. in Russia that produces varieties of fruit and vegetable juice, according to information from the FAS and the SPARK-Interfax analytical system. The press service for PepsiCo in Russia told Interfax that Wimm-Bill-Dann Beverages is the legal entity that owns the enterprise in Ramensky that closed in 2015.

As previously reported on February 15, Multipro TC LLC filed a petition with the FAS regarding preliminary consent to acquire ownership of Wimm-Bill-Dann Beverages' fixed production, as well as intangible assets, after which PepsiCo confirmed that the entity was for sale.

Multipro TC, according to the company's website, produces cheeses and cheese products under the brand Alti. According to SPARK-Interfax, the beneficiary of Multipro TC is Alexander Trostyanetsky. The company's revenue was 7.53 billion rubles in 2021, and its net profit was 308.79 million rubles.

Wimm-Bill-Dann Beverages had revenue of 39.9 million rubles last year and a net loss of 64.6 million rubles.

PepsiCo became a leading producer of dairy products and non-alcoholic beverages in Russia after purchasing Wimm-Bill-Dann Beverages. The deal was closed in September 2011. The Russian company was evaluated at $5.8 billion.

PepsiCo said at the beginning of March this year that it was suspending sales of soft drinks under global brands in Russia, as well as investments and marketing activity. Sales of dairy products, baby food, and baby formula will continue.