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Sunday, June 23, 2024

beverage giants suspend Russian sales

Coca-Cola and PepsiCo have both suspended business across Russia as the nation continues its invasion of Ukraine.

Atlanta-based Coca-Cola said: “Our hearts are with the people who are enduring unconscionable effects from these tragic events in Ukraine.”

It added: “We will continue to monitor and assess the situation as circumstances evolve,” the statement added.

PepsiCo, meanwhile, cited “the horrific events” unfolding in Ukraine as it pledged to halt sales of Pepsi-Cola, 7 Up and other brands in Russia, along with capital investments and advertising in a country where it has operated for more than 60 years. The company will continue to sell dairy products including milk, as well as baby food and formula, it said.

The beverage giants made their announcements shortly after McDonald’s said it would temporarily close its 850 restaurants in Russia. Like Coca-Cola’s statement, McDonald’s CEO Chris Kempczinski’s open letter to staff did stop short of condemning Russia over its attack.

Starbucks has also paused all business in Russia, adding it would provide support to approximately 2,000 partners across the country who depend on the chain for their livelihood.

“We condemn the horrific attacks on Ukraine by Russia,” stated the coffee chain’s Chief Executive, Kevin Johnson.

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