US: Pepsi Bottling Group to acquire drinks bottler
Pepsi Bottling Group, the drinks bottler currently in a takeover tussle with its majority shareholder, Pepsico, has signed a deal to buy Massachusetts-based firm Pepsi-Cola Bottlers for the Merrimack Valley.
Pepsi Bottling Group (PBG) said yesterday (14 May) that it has signed a letter of intent to buy up the provincial group, which was founded in 1959 and employs 70 people. A fee was not disclosed.
"We continue to capitalise on geographic growth opportunities as part of our strategy to win in the marketplace and create shareholder value," said PBG chairman and CEO Eric Foss.
The move, which is expected to be completed in the third quarter of 2009, is the latest in a series of takeovers by PBG in the last year, including Better Beverages in Texas, Lane Affiliated, the eighth largest PepsiCo bottler in the US, and Pepsi-Cola Batavia Bottling Corp.
Earlier this week, PepsiCo filed a lawsuit against PBG after the bottler refused to agree to a takeover bid from the soft drinks giant, which owns a 33% stake in the group.
There's no doubt what's currently exercising the minds of beverage executives in the US - the threat of a Federal CSD tax. Now that President Obama has said the idea is worth investigating the ante ha...
The Coca-Cola Co reported flat earnings on Tuesday (20 October), with lower-than-expected quarterly revenue hurt by the stronger US dollar. Michelle Russell examines the fallout....
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PepsiCo has temporarily withdrawn documents filed with US the Federal Trade Commission on its acquisition of all outstanding shares in Pepsi Bottling Group and PepsiAmericas....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....
PepsiAmericas has posted a fall in third-quarter profits, but declared itself "satisfied" with the performance....
The European Commission has approved PepsiCo's proposed purchases of two of its major bottlers, PepsiAmericas and Pepsi Bottling Group....
Ocean Spray and PepsiCo have expanded their strategic alliance in the US to include more of the cranberry grower cooperative's portfolio....
- Diageo chief admits "tougher than expected" year
- just The Preview - Diageo's FY preliminaries
- Focus - Diageo's FY Performance by Region, Brand
- Will Diageo seize the day as "nadir" reached?
- Molson Coors CEO exit - Mega-Merger on hold?
- ASA bans Jägermeister TV ad
- Belvédère chairman to step down
- Diageo boosts exec committee
- Diageo silent over Shuijingfang writedown report
- Remy Cointreau names liqueurs & spirits CEO