SOMERS, N.Y.–(BUSINESS WIRE)–The Pepsi Bottling Group, Inc. (NYSE: PBG) today announced that it has signed a Letter of Intent to acquire Pepsi-Cola Bottling Co. of Yuba City, Inc., a Pepsi-Cola franchised bottler based in northern California.
The origins of the Yuba City-based company date back to 1944, when John Cary, Sr. purchased the local Pepsi-Cola franchise. It has been a successful family-owned and operated business ever since, with John Cary II serving as the company’s president since 1989.
“Acquiring well-run independent bottlers continues to be an important part of our strategy to capitalize on geographic growth opportunities,” said PBG Chairman and Chief Executive Officer Eric Foss. “The Cary family has operated a terrific company for more than six decades. Their business, as well as their talented employees, will strengthen our organization. We look forward to building on their commitment to customer service and community involvement in the years to come.”
PBG expects the transaction to be completed during the second quarter of 2010. Financial terms were not disclosed.
This is the sixth in a series of deals that PBG has announced since the beginning of 2008 to expand the company’s U.S. footprint.
About PBG
The Pepsi Bottling Group, Inc. (NYSE:PBG) is the world’s largest manufacturer, seller and distributor of Pepsi-Cola beverages. With approximately 65,000 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.