Immediately after the start of the mass invasion, Coca-Cola announced that it would suspend operations in the Russian Federation, but this did not happen. The company continues to make a lot of money in the country, hiding under a different name.
The Russian division of the Coca-Cola company has already quadrupled its revenues over the past year. Also, the company now earns more than before the war in Ukraine. The Insider reported this on Friday, April 5.
It was noted that in March 2022, almost immediately after the start of Russia’s large-scale invasion of Ukraine, Coca-Cola announced that it was suspending operations in the country.
The publication wrote that, despite the fact that the company’s general director James Quincey assumed that Coca-Cola would completely leave Russia, this did not happen. The production of Coca-Cola brands in Russia was suspended, and Dobry Cola appeared instead.
The business itself, formerly Coca-Cola HBC (Coca-Cola HBC Eurasia LLC), changed its name to Multon Partners, but remained owned by the Dutch Coca-Cola HBC Holdings BO, part of the global Coca-Cola group Hellenic.
The revenue of Multon Partners LLC in 2023 reached 10.25 billion rubles ($110,715,067 million). This is four times higher than in 2022. Then the company earned $24,843,381 million.
As the publication notes, in comparison with pre-war profits, the growth is also significant – one and a half times.
Remind you that Coca-Cola’s main competitor Pepsi recently opened a new plant in Russia.
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Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.