The Pepsi Bottling Group (NYSE: PBG) today announced that it has signed a Letter of Intent to acquire Pepsi-Cola Batavia Bottling Corp, a family owned and operated business based in Batavia, NY.
The company to be acquired, which is a Pepsi-Cola franchised bottler, serves New York’s Genesee, Orleans and Wyoming counties along with parts of Livingston, Alleghany and Cattaraugus counties. It was founded in 1890 and is currently owned by Thomas and John Houseknecht. Terms of the transaction were not disclosed.
"We are very pleased to expand our footprint in upstate New York," said Eric Foss, PBG’s Chief Executive Officer. "The Houseknecht family has built a strong business through a combination of superb customer service, desirable product offerings, and active community involvement. We look forward to continuing their tradition of excellence in these areas and meeting the beverage needs of the area’s customers and consumers."
"We are pleased that Pepsi Batavia will join PBG, the largest Pepsi-Cola bottler in the world," stated Tom and John Houseknecht."We are confident thatPBG will continue to provide the level of service and support that our employees and customers have come to expect from our company."
The Houseknecht family will continue to own and operate Loose Ends Vending, Inc.
The transaction is expected to close during the first quarter of 2008.
The Pepsi Bottling Group, Inc. is the world’s largest manufacturer, seller and distributor of Pepsi-Cola beverages, with annual sales of nearly $13 billion. With more than 70,000 employees worldwide, PBG has operations in the U.S., Canada, Mexico, Russia, Spain, Turkey and Greece. For more information, visit the Company’s website at www.pbg.com