Greek Cypriot businessmen file €140 million lawsuit against PepsiCo over factory use

Greek Cypriot entrepreneurs representing the companies CyproFruta Limited and Cyprus Farming Company Limited have filed a lawsuit at the Nicosia District Court against the global soft drink manufacturer PepsiCo and its subsidiaries. The plaintiffs are seeking over €140 million in damages, which includes €135 million for lost profits and business use, plus €9 million in unpaid rent, covering the period from 1981 to September 30, 2026.

The lawsuit targets 12 entities and individuals, including PepsiCo’s U.S. headquarters and its Turkish subsidiary, as well as the northern Cyprus-based company Ektam Kibris Ltd. According to the claim, the factory in occupied Famagusta has been utilized since 1981 to produce Pepsi, Pepsi Max, 7UP, and Mirinda products without the consent of the original owners. The legal action was initiated by the law firm G. Georgiades & Associates LLC on behalf of the displaced owners who claim illegal seizure and exploitation of their property for over four decades.

This legal battle marks a significant attempt by property owners to hold multinational corporations accountable for their involvement in the exploitation of assets located in the occupied territories of Cyprus. The case remains pending before the Nicosia District Court as the plaintiffs seek compensation for the long-term unauthorized usage of their manufacturing facilities.