The soft drinks producer, Pepsi Bottling Group (PBG), has announced that it has signed a letter of intent to acquire Cassidy's Beverages Ltd., a family-owned soft drinks bottler located in New Brunswick.

The local bottler, serving Northumberland and Gloucester counties, has one bottling plant and two warehouses and employs 45 people. Financial details of the deal, which is expected to be completed by the end of the year, were not disclosed.

The Cassidy's deal follows on the heels of another Canadian acquisition for PBG, the largest bottler of Pepsi brands in the world. Last week, the bottler announced the completion of its acquisition of Kitchener Beverages, a local bottler based in Ontario. PBG accounts for around 85% of the sales of Pepsi-branded beverages in Canada.