PepsiCo to finish Acquisition of Russian Juice Leader

Lebedyansky is the world's sixth-largest juice manufacturer and the largest in Russia, with an estimated market share in Russia of around 30% and annual revenues in 2007 of approximately $800 million from its juice business.

 PepsiCo and
The Pepsi Bottling Group announced that they have completed a joint
acquisition of a 75.53% stake in Russia's leading branded juice
company JSC Lebedyansky.

PepsiCo and PBG will initiate a
mandatory offer for the remaining shares of Lebedyansky, in
accordance with Russian law, in the near future. The acquisition does
not include the company's baby food and mineral water businesses,
which earlier were spun off to shareholders in a separate
transaction.
Under agreements reached, PepsiCo and PBG have
acquired through a joint venture the 75.53% of Lebedyansky held by
its four largest individual shareholders. The venture is owned
75%/25% by PepsiCo and PBG, respectively.
The approximately US$1.4
billion PepsiCo and PBG paid to acquire the stake in Lebedyansky
implies a total enterprise value for Lebedyansky, including debt and
spin-off related adjustments, and excluding the company's baby food
and mineral water business, of approximately US$2 billion.