Dechert has advised PepsiCo, Inc, via its subsidiary Wimm-Bill-Dann Foods, on the sale of five dairy farms in Russia.
The farms, which are located in the Krasnodar and Leningrad regions of Russia, were acquired by Pepsi in 2011 as part of its USD 3.8 billion acquisition of Wimm-Bill-Dann Foods, on which Dechert also advised. In addition to milk, the farms produce winter wheat, barley, seeds, beets, and forage. The farms also own more than 12,000 head of cattle, which provide about 38,000 metric tons of milk each year. Despite the sale, PepsiCo plans to continue purchasing raw materials from these farms.
The Dechert team advising PepsiCo on the matter was led by Head of Russian Practice Laura Brank, assisted by Moscow Counsel Olga Watson.