PEPSI BOTTLING VENTURES LLC FINALIZES ACQUISTION OF FIVE COUNTY NORTH CAROLINA TERRITORY – CHARLOTTE
RALEIGH, N.C. - JUNE 17, 2013 – Pepsi Bottling Ventures, LLC (PBV) today announced that it has completed its acquisition of Mecklenburg, Cabarrus, Union, Stanly, and Anson counties, in North Carolina, from PepsiCo. This territory encompasses the Charlotte metropolitan area.
Said PBV President and CEO Paul Finney: "This is an exciting time for PBV. We look forward to welcoming Pepsi Charlotte into the PBV family and serving consumers and trade customers in North Carolina’s largest city. This acquisition will allow us to significantly expand our footprint in the Carolinas while adding scale and leveraging our operating capability across PBV’s regional core."
The financial terms of the transaction were not disclosed.
A joint venture between Suntory International and PepsiCo (35-percent ownership), PBV is the largest privately held bottler of Pepsi-Cola products in North America, currently operating 22 bottling and distribution facilities that serve consumers in North Carolina, South Carolina, Virginia, Maryland, and Delaware. For more information about PBV, visit www.pepsibottlingventures.com.