US: Pepsi Bottling Group acquires bottler
Pepsi Bottling Group has acquired Texas-based soft drinks bottler Ab-Tex Beverage, its third bottler in less than two months.
Pepsi Bottling Group said today (8 June) that it has signed a letter of intent to acquire Ab-Tex Beverage, which employs around 450 people.
Financial details of the deal were not disclosed.
The timing of the move places more pressure on PepsiCo to raise its takeover bid for Pepsi Bottling Group. The bottler used a conference call with analysts last week to outline why PepsiCo's combined US$6bn bid for both it and PepsiAmericas is too low.
In the last two months, Pepsi Bottling Group has also signed deals to buy two other provincial bottlers, Pepsi-Cola Bottlers for the Merrimack Valley and Better Beverages.
"As the pace of bottler consolidation in the US accelerates, we will continue to capitalise on opportunities to expand our business," said Pepsi Bottling Group chairman and CEO Eric Foss today.
Analyst Richard Corbett takes a look at the strong performance of the carbonates category, which has been suffering in other regions....
Britvic, the UK's largest soft drinks firm, is targeting acquisitions as it looks to build on strong sales and profits momentum in its most recent fiscal year....
Britvic, the UK's biggest soft drinks group, has said it sees "encouraging signs" on the market after reporting a jump in full-year profits and a healthy sales rise driven by core brands....
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PepsiCo's board of directors has declared a quarterly dividend of $0.45 per share on the soft drink giant's common stock....
PepsiCo has temporarily withdrawn documents filed with US the Federal Trade Commission on its acquisition of all outstanding shares in Pepsi Bottling Group and PepsiAmericas....
Britvic has declined to comment on a report that it is looking to raise US$150m (GBP91.5m) via a private share placement in the US....
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