Greek Cypriot businessmen sue PepsiCo for €144 million over occupied property

Greek Cypriot businessmen have filed a lawsuit at the Nicosia District Court against the American multinational PepsiCo and 11 other parties, including the Turkish producer of its beverages and its subsidiary in the Turkish-occupied north of Cyprus. The plaintiffs, represented by the companies Cyprofruta Limited and Cyprus Farming Company Limited, claim that a factory they own in the occupied Famagusta district has been used illegally since 1981 to manufacture products such as Pepsi, Pepsi Max, 7UP, and Mirinda. The claimants are seeking over €140 million in damages, with reports specifying the amount as exceeding €144 million, covering lost profits and rent for the period between 1981 and September 30, 2026.

Before initiating legal action, the owners attempted to resolve the dispute by requesting the occupiers to vacate the premises and provide compensation, but their demands were rejected. The lawsuit targets the entity Ektam Kibris Ltd, which allegedly operates the facility, along with associated executives and international corporate entities. The legal proceedings remain in the early stages following the recent filing, with the plaintiffs seeking full accountability for the unauthorized commercial exploitation of their land and business assets.