US: Pepsi Bottling to acquire Maryland bottler
Pepsi Bottling Ventures has signed a letter of intent to acquire Pepsi-Cola Bottling Co. of Salisbury, Maryland. The terms provide for a closing by the end of August 2004.
The Salisbury, Maryland franchise encompasses the Eastern Shore of Virginia, eight counties in Maryland on the east side of Chesapeake Bay and two counties in Delaware, comprising most of the Delmarva Peninsula. Included are the resort areas of Ocean City, MD, and Rehoboth Beach, DE.
The Maryland bottler has production and sales facilities in Salisbury and satellite warehouses in Nelsonia, VA, and Harrington, DE. The company has over three hundred employees and revenues in excess of US$60m.
"We believe that by combining the resources of Pepsi-Cola of Salisbury with those of PBV, we will create an even stronger entity, which will be better equipped to meet the future needs of our customers, employees and the communities we serve," said Keith Reimer, president and CEO of Pepsi Bottling Ventures.
Financial terms of the transaction were not disclosed.
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