UPDATE 2 – Coca-Cola and PepsiCo stop selling soft drinks in Russia

(Changes sourcing, adds details about Coca-Cola)

March 8 (Reuters) – Coca-Cola Co and PepsiCo Inc said on Tuesday they were stopping sales of their soft drinks in Russia, becoming the latest big-name Western consumer brands to scale back their activities in the region following Moscow’s invasion of Ukraine.

Coca-Cola said its business in Russia and Ukraine contributed about 1 to 2 percent to the company’s net operating revenue in 2021.

PepsiCo, whose colas were among the few Western products allowed in the Soviet Union before its collapse, announced that the company would continue to sell everyday goods such as milk and other dairy products, as well as baby food and baby formula in Russia.

Earlier on the same day, McDonald’s Corp. announced that all 847 restaurants in Russia would be temporarily closed.

(Reporting by Praveen Paramasivam and Uday Sampath in Bengaluru; Editing by Shailesh Kuber and Amy Caren Daniel)