Whitman Corp, PepsiCo's second largest bottler, has acquired stakes in two Caribbean bottlers, a report in the Asian Wall Street Journal claims.

According to the report Whitman has acquired a 30% stake in Pepsi-Cola Bahamas Bottling Co, and a 90% stake in Pepsi-Cola Trinidad Bottling Co.

Both deals are part of Whitman's plan to expand sales and marketing of Pepsi products. Whitman said that it will take over the oversight of all management and operations of both companies with immediate effect.

No financial terms were disclosed but reports state that Whitman plans to invest in upgrading plants and equipment, improving sales and providing employee training.