US: Pepsi Bottling Group to acquire California bottler
The Pepsi Bottling Group (PGB) has signed a letter of intent to acquire Pepsi-Cola Bottling Co. of Yuba City, Inc.
The Pepsi-Cola franchised bottler, based in northern California, is a family-owned business headed by John Cary as president.
PBG said yesterday (31 January) that it expects the transaction to be completed during the second quarter of 2010. Financial terms were not disclosed.
“Acquiring well-run independent bottlers continues to be an important part of our strategy to capitalise on geographic growth opportunities,” said PBG chairman and CEO Eric Foss.
This is the sixth in a series of deals that PBG has announced since the beginning of 2008 in a bid to expand its US footprint.
Last summer, PBG completed the acquisition of Pepsi-Cola Bottlers for the Merrimack Valley for an undisclosed fee.
The firm added that to its deal to buy fellow Pepsi bottler Ab-Tex Beverage in Texas in the third quarter of 2009.
Given the fast-growing domestic consumption of branded drinks, Chinese beverage manufacturers are racing to expand their production....
PepsiCo and its Thailand-based partner, Strategic Beverages, have dropped plans to acquire Pepsi-Cola bottler Serm Suk, according to a report....
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