PepsiCo has sold its agricultural enterprises in Russia for $31 million, according to the company's report submitted to the U.S. Securities and Exchange Commission (SEC).
In February 2014, PepsiCo was reported to have sold its Atamanskoye, Niva, Trud, Zavety Ilyicha, Za Mir i Trud Breeding Farm businesses.
According to the Vedomosti, PepsiCo sold the agro-industrial assets to Agrocomplex located in Russia's Krasnodar Krai founded by Nikolay Tkachyov, the father of today's Krasnodar Krai Governor Alexander Tkachyov,
As a whole, PepsiCo estimated its Russian assets at $7.2 billion. "In light of recent events involving Russia and Ukraine, we continue to monitor the economic and operating environment in these regions closely. In the first quarter of 2014, 5.5% of our total net revenue was generated by our operations in Russia," PepsiCo notes in its report for SEC.
The company's operations in Ukraine are not significant in relation to its total business, PepsiCo points out.
PepsiCo ranks second-largest worldwide manufacturer of soft drinks. The company consists of several units including Frito-Lay North America (engaged in production of snacks, chips, crackers, popcorn, nuts, and cookies), PepsiCo Beverages North America, PepsiCo International and Quaker Foods North America. The basic brands of the company are: Pepsi-Cola, Diet Pepsi, Mirinda, Mountain Dew, the Tropicana juice, the Aquafina water and the Lay's, Cheetos, Quaker Oats, Doritos snacks.