US: PBG to acquire Maine bottling operation
The Pepsi Bottling Group, Inc. has signed a letter of intent to purchase the Pepsi bottling operation of Seltzer and Rydholm, Inc. The operation, owned and operated by the Rydholm family for more than 80 years, comprises a production, distribution and sales facility in Auburn, Maine and distribution centres in Portland and Augusta, Maine. Seltzer and Rydholm serves all or portions of 11 counties in southern and central Maine.
In a statement, John T. Cahill, chairman and CEO of The Pepsi Bottling Group, said: "This acquisition will complement PBG's existing business in Maine and extend our operations across the entire state.
"Over many decades, the Rydholm family has invested substantial resources into this business and the communities it serves. Their commitment to customer service and product quality has resulted in solid sales growth. We look forward to building on this commitment and continuing their strong legacy of community support," Cahill added.
The terms of the transaction, which is expected to close in the autumn, were not disclosed.
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