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PepsiCo To Buy Wimm-Bill-Dann

PepsiCo To Buy Wimm-Bill-Dann - PepsiCo is set to buy Wimm-Bill-Dann, the Russian dairy and fruit juice company, for $5.8bn – the biggest foreign acquisition yet of a Russian company.

The US food giant is expected to announce it has agreed to acquire 66 per cent of Wimm-Bill-Dann’s stock from the company’s major shareholders and treasury shares for $3.8bn, according to people familiar with the situation.

Subject to regulatory approval, it will then make a public offer to remaining shareholders.

The deal, valuing Wimm-Bill-Dann at $132 a share, is also one of the biggest acquisitions to date by PepsiCo.

News of the deal sent shares in the Russian company up some 27 per cent in Moscow.

“The deal was discussed...over the last three weeks,” board member and co-owner David Yakobashvili told Russian news agency Interfax.

It follows a series of acquisitions of food companies – and particularly soft drink and juice makers – in the fast-expanding Russian consumer market.

PepsiCo To Buy Wimm-Bill-Dann
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