Supplier News Breaks Archives
PepsiCo acquisition of bottlers gets shareholder OK
February 18th, 2010
PURCHASE, N.Y. – Stockholders of The Pepsi Bottling Group Inc. and PepsiAmericas Inc. have approved agreements by each of their companies to be acquired by PepsiCo Inc.
The beverage and food giant said Wednesday that approximately 99% of the shareholders of the two bottling companies voted in favor of the merger agreements.
Once the deals are finalized, plans call for Pepsi Bottling Group and PepsiAmericas to be integrated into Pepsi-Cola Metropolitan Bottling Co., a PepsiCo subsidiary.
PepsiCo announced the acquisition deals, which it said represent a total value of $7.8 billion, in August. The company said at the time that the mergers will create one of the largest food and beverage companies in the world and yield pretax synergies of $300 million by 2012 as a result of improved cost efficiency and revenue opportunities.
PepsiCo said it aims to close the acquisitions, pending regulatory approval, by the end of this month.
The company's main businesses include Pepsi-Cola, Frito-Lay, Quaker, Tropicana and Gatorade.