Pepsi Bottling Ventures, LLC (PBV) announced that it has completed its acquisition of Mecklenburg, Cabarrus, Union, Stanly and Anson counties, in North Carolina, from PepsiCo. This territory encompasses the Charlotte metropolitan area.
Said PBV President and CEO Paul Finney, in a prepared statement: "This is an exciting time for PBV. We look forward to welcoming Pepsi Charlotte into the PBV family and serving consumers and trade customers in North Carolina’s largest city. This acquisition will allow us to significantly expand our footprint in the Carolinas while adding scale and leveraging our operating capability across PBV’s regional core."
The financial terms of the transaction were not disclosed.