PURCHASE, N.Y. — PepsiCo has completed its purchase of two-thirds of Russian food and beverage company Wimm-Bill-Dann Foods for $3.8 billion.

The transaction was originally announced in December and will make PepsiCo the largest food and beverage company in Russia and strengthen the company’s position in the Eastern European and Central Asian markets. The transaction also will increase PepsiCo’s total ownership of Wimm-Bill-Dann’s ordinary shares to about 77%.

Additionally, PepsiCo expects to make an offer on or before March 11 for the remaining shares of Wimm-Bill-Dann for a price of $132 a share.