Thu. Oct 6th, 2022

© Reuters. FILE PHOTO: Coca-Cola bottles are seen on sale in central St. Petersburg, Russia, August 6, 2014. REUTERS/Alexander Demianchuk/File Photo

By Jessica DiNapoli

NEW YORK (Reuters) – Coca-Cola HBC AG and its existing customers in Russia are “in the process of depleting stock,” Coca-Cola Co said in a statement.

Once the company’s stock is depleted, Coca-Cola HBC will “no longer produce or sell Coca-Cola or other brands of the Coca-Cola Company (NYSE:) in Russia,” Coca-Cola said.

Atlanta-based Coca-Cola owns about 23% of Switzerland-based Coca-Cola HBC, according to Refinitiv’s Eikon. Coca-Cola HBC bottles and sells Coke beverages exclusively in its 29 markets, which includes Greece, Italy and countries in Eastern Europe, according to its website.

By Rahul

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