UNITED States-based PepsiCo Inc is buying a majority stake in Wimm-Bill-Dann Foods for US$3.8 billion, making it the biggest Russian food and beverage company.

The move also gives PepsiCo access to the healthier drinks consumers are increasingly clamoring for, as Wimm-Bill-Dann produces dairy and juice products including Chudo, J7 and Lubimy Sad.

"This deal makes perfect sense for Pepsi," John Sicher, editor and publisher of Beverage Digest, said, explaining that the acquisition allows PepsiCo to diversify its portfolio and pick up some health-conscious products.

The transaction is in line with similar steps taken by rival Coca-Cola Co, which bought Russian juice producer Nidan for an undisclosed sum in September. Coca-Cola has invested US$2 billion since the early 1990s into Russia and plans to invest another US$1 billion in the next three to five years.

Atlanta-based Coca-Cola and PepsiCo have been increasing their presence in Russia, China and other emerging countries in part to offset weakness at home and in developed markets, where people have been curbing spending because of the uncertain economy.

PepsiCo gets 40 percent of its revenue from outside the US and Canada. It unveiled a US$1 billion investment program for Russia last year.