The Pepsi Bottling Group has signed a letter of intent to acquire Pepsi-Cola Bottling Company of Charlotte (Pepsi Charlotte) for an undisclosed sum.

Pepsi Charlotte is the ninth largest Pepsi bottler in the US and serves all or a portion of eight counties in North Carolina. Founded by Henry and Sadie Fowler, Pepsi Charlotte has been a family-owned and operated company for 100 years.

In a statement, PBG chairman and CEO John T. Cahill said: "We are very excited to welcome Pepsi Charlotte to the PBG family. Contiguous to PBG's existing territory, this is a growing business located in an area where the population is on the rise. Dale Halton has operated this company for the past 25 years in the tradition of her grandparents' original vision. She has fostered a culture of attentive customer service and strong ties to the local community. We look forward to building upon these strengths and continuing to grow the Pepsi business in North Carolina."
Pepsi Charlotte employs approximately 400 people. Its operations include a manufacturing plant and warehouse in Charlotte, and two additional warehouses in Cherryville and Midland, North Carolina.

The transaction, which is subject to approval by the PBG board of directors, is expected to close during the fourth quarter of this year.