NEW YORK -- Soft drink and snack maker PepsiCo says it will team up with its largest bottler, Pepsi Bottling Group, to invest $1 billion in Russia over three years.
PepsiCo calls it part of a long-term strategy to expand in emerging markets.
The investment will be used to boost manufacturing and distribution capacity in Russia -- an "attractive growth market."
PepsiCo is also opening a new beverage facility this week in Domodedovo and will open a snacks manufacturing plant in Azov later this year.
The PepsiCo plant in Domodedovo will produce Pepsi-Cola and other beverages.
Purchase, N.Y.-based PepsiCo is the world's second-biggest maker of soft drinks behind Coca-Cola Co.
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