The Pepsi Bottling Group signed a letter of intent to acquire Pepsi-Cola Bottlers for the Merrimack Valley Inc. The Haverhill, Mass.-based company is a family-led Pepsi-Cola franchise bottler serving northeastern Massachusetts.
"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 says the acquisition is part of its plan to expand the company's U.S. footprint across contiguous territories. The transaction is expected to be completed during the third quarter of 2009. Financial terms were not disclosed.