Greek Cypriot firms sue PepsiCo over Famagusta factory use
Cyprofruta Ltd and Cyprus Farming Ltd have filed a lawsuit in Nicosia District Court against PepsiCo and 11 other parties, alleging that their factory and land in Famagusta have been used without consent since 1981. The plaintiffs seek compensation for lost use, lost profits and rent covering the period from 1981 to 30 September 2026. A pre‑action notice was sent to the defendants in February 2026, which was ignored before the suit was filed.
Why it matters
The claim could expose PepsiCo to a multi‑hundred‑million‑euro liability, which may affect its earnings and cash flow if the case proceeds to judgment or settlement. No company comment on the potential impact was provided in the materials.
Key facts
- 1The lawsuit was filed in Nicosia District Court by Cyprofruta Ltd and Cyprus Farming Ltd. en.politis.com.cy
- 2The plaintiffs allege unauthorized use of their factory and land in Famagusta since 1981. en.politis.com.cy
- 3The claim seeks €135 million for loss of use and lost profits. cyprus-mail.com
- 4The claim seeks €9 million for rent covering the period from 1981 to 30 September 2026. cyprus-mail.com
- 5A pre‑action notice was sent to the 12 defendants in February 2026. en.politis.com.cy
- 6The lawsuit names PepsiCo (headquartered in New York) and its Istanbul division among the 12 defendants. ua.news
Open questions
- Total amount claimed differs: €140 million versus €144 million.
Summary written by AlphAI AI Desk from 3 of 3 sources. Not investment advice. Figures are as stated by the linked sources.