PepsiAmericas has declined to comment on press reports suggesting the company is looking to team up with Quadrant European Beverages to acquire Bulgarian Pepsi Bottling company Agrima.

Reports have suggested that the US-based company is to take a 20% stake in Agrima, with Cyprus' Quadrant holding the remaining 80%. The purchase is thought to be worth in the region of EUR10m (US$13.4m).

When contacted by just-drinks today (16 August), a spokesperson for PepsiAmericas would not be drawn on the reports. "It is not our policy to comment on speculation," the spokesperson said.

Local press has claimed that the transaction will go through before the end of this month.

Quadrant is owned by businessman Eli Davidai. Agrima is Bulgaria's second-largest bottler after Coca-Cola.