PepsiCo to Acquire Russia''s Wimm-Bill-Dann for $3.8 Billion

PRNewswire reports that PepsiCo. has agreed to acquire 66-percent of Russian dairy and juice company Wimm-Bill-Dann for $3.8 billion, pending the required government approvals. PepsiCo will offer to acquire the remaining shares of Wimm-Bill-Dann through an offer following completion of that acquisition at such time and on terms as are mandated by Russian law, and PepsiCo may acquire additional shares in other transactions. It will raise PepsiCo''s annual global revenues from nutritious and functional foods from approximately $10 billion today to nearly $13 billion.