A group of Greek Cypriot businessmen are suing a company in the north of the island as well as soft drink makers Pepsi, seeking compensation to the tune of €140 million for the illegal and unauthorised use of their factory since 1981, according to reports on Thursday.

Daily Politis reported that the lawsuit was filed a few days ago with Nicosia district court. The paper saw a copy of the lawsuit claim, filed by Greek Cypriot companies CyproFruta and Cyprus Farming Ltd – the owners of which owned the factory in the north, located in now occupied Famagusta.

Since 1981, a company in the north by the name of Ektam Kibris Ltd has used the factory and the land to manufacture Pepsi brand products – including Pepsi, Pepsi Max, 7UP and Mirinda.

The plaintiffs are suing 12 companies/individuals – including PepsiCo, its global headquarters based in New York, the United States.

Others sued include Pepsi’s subsidiary in Istanbul, Turkey, as well as executives of Ektam Kibris and of associated companies.

The plaintiffs demand €135 million for loss of use of their business and for loss of profits, plus €9 million in rent – covering the period from 1981 to September 30, 2026.

According to Politis, in February of this year the Greek Cypriot businessmen had sent via their lawyers a notice to the 12 companies and individuals, calling on them to cease and desist from using the factory in the north.

The notice was ignored, after which the plaintiffs filed the lawsuit.

Founded in 1981, Ektam Kıbrıs is the exclusive bottler and distributor for PepsiCo International products in the north.

The Erkman family owns 25 per cent of the business. Tamek Holding AS, controlled by Melih and Gungor Sipahioglu, of Turkey, used to own the rest.

Semsi Kazim Erkman, Sibel Erkman, Eda Erkman, Gungor Sipahioglu and Infima Holding (formerly Tamek Holding AS) are named in the lawsuit.