Coca-Cola to cease production and sales in Russia
Coca-Cola Hellenic Bottling Company (HBC), bottler of Coca-Cola Co., will cease production and sales of Coca-Cola and the company's other brands in Russia, Reuters has reported, citing Coca-Cola Co.
Zug, Switzerland-based Coca-Cola HBC and its customers are currently in the process of depleting stock, Reuters said.
The company in March announced the suspension of operations in Russia, specifically the supply of concentrate for its drinks for the Russian market.
James Quincey, Chairman and CEO of Coca-Cola Co., in May said that the company could leave Russia.
In Russia, Coca-Cola HBC owns 10 factories for the production of soft drinks and juices. In 2021, Coca-Cola HBC increased Russian sales by 18.3% to 373.3 million boxes, with one box containing around 5.7 liters, implying that Russian sales totaled around 2.1 billion liters.