The Haverhill, MA-based company is a Pepsi-Cola franchised bottler serving northeastern Massachusetts. Its origins date back to 1959, when David Coffman purchased a local Pepsi bottler based in Methuen, MA. The business has been operated under the leadership of the Coffman family ever since.
“We continue to capitalize on geographic growth opportunities as part of our strategy to win in the marketplace and create shareholder value,” said PBG Chairman and Chief Executive Officer Eric Foss. “The Coffman family has built a great company over the past five decades, and we’re looking forward to welcoming the people of Pepsi-Cola Bottlers for the Merrimack Valley into the PBG organization. They will be joining a company that has a long track record of success and is well-positioned to deliver sustainable growth moving forward.”
PBG’s plan to acquire Pepsi-Cola Bottlers for the Merrimack Valley is the latest in a series of recent deals to expand the company’s U.S. footprint across contiguous territories and enhance its ability to meet customer needs.
In March, PBG announced plans to acquire Better Beverages, Ltd., a Pepsi-Cola and Dr Pepper franchised bottler that serves portions of central Texas. Last September, the company acquired Lane Affiliated Companies, the eighth largest Pepsi bottler in the U.S. with operations in Colorado, Arizona and New Mexico. In March 2008, PBG acquired Pepsi-Cola Batavia Bottling Corp., serving parts of upstate New York.
The transaction announced today is expected to be completed during the third quarter of 2009. Financial terms were not disclosed. Pepsi-Cola Bottlers for the Merrimack Valley employs about 70 people.
The Pepsi Bottling Group, Inc. (NYSE:PBG) is the world’s largest manufacturer, seller and distributor of Pepsi-Cola beverages. With approximately 67,000 employees and annual sales of nearly $14 billion, PBG has operations in the U.S., Canada, Greece, Mexico, Russia, Spain and Turkey. For more information, please visit www.pbg.com.