PepsiCo ( PEP), along with Pepsi Bottling ( PBG), plans to invest $1 billion in Russia over three years to expand manufacturing and distribution.

The investment brings the total investment in Russia by the U.S. companies to more than $4 billion and is consistent with "PepsiCo's ongoing strategy to expand in emerging markets," PepsiCo said in a press release.

"Russia is a very attractive growth market," said Pepsi Bottling Chairman and CEO Eric Foss.

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