PBG President and Chief Executive Officer Eric J. Foss said, "The economic outlook for Russia is very bright. This joint venture will enable the Pepsi system to respond more quickly to marketplace dynamics. In addition, we will be in an even better position to strategically invest in Russia to accelerate our growth."
PepsiCo Vice Chairman and Chairman & CEO of PepsiCo International Michael D. White said, "This agreement strengthens what has been a very effective working relationship between PBG and PepsiCo. We look forward to working closely with PBG to continue building our business in Russia."