The Pepsi Bottling Group Inc, the world's largest manufacturer, seller and distributor of Pepsi-Cola beverages, has signed a Letter of Intent to acquire Better Beverages Ltd, a Pepsi-Cola and Dr Pepper franchised bottler that serves larger parts of Texas.
Hallettsville-based Better Beverages was founded in 1925 by H.J. Campbell and has been under the leadership of the Campbell family since it began.
It currently employs approximately 180 people and does business in 20 counties across Texas, operating a production facility in Hallettsville, as well as three satellite warehouses in Wharton, Victoria and Brenham.
LONG-TERM GROWTH
PBG Chairman and Chief Executive Officer Eric Foss commented: "We continue to make investments that will expand our business in ways that both strengthen our ability to meet the needs of our customers and enhance our long-term growth prospects.
"The Campbell family and their many talented employees have operated a great company for more than eight decades, and adding it to the PBG family will enable even greater success for the Pepsi enterprise in Texas. We look forward to completing this transaction and welcoming the men and women of Better Beverages into our organisation."
The transaction is expected to be completed during the second quarter of 2009. Financial terms were not disclosed.
Hallettsville-based Better Beverages was founded in 1925 by H.J. Campbell and has been under the leadership of the Campbell family since it began.
It currently employs approximately 180 people and does business in 20 counties across Texas, operating a production facility in Hallettsville, as well as three satellite warehouses in Wharton, Victoria and Brenham.
LONG-TERM GROWTH
PBG Chairman and Chief Executive Officer Eric Foss commented: "We continue to make investments that will expand our business in ways that both strengthen our ability to meet the needs of our customers and enhance our long-term growth prospects.
"The Campbell family and their many talented employees have operated a great company for more than eight decades, and adding it to the PBG family will enable even greater success for the Pepsi enterprise in Texas. We look forward to completing this transaction and welcoming the men and women of Better Beverages into our organisation."
The transaction is expected to be completed during the second quarter of 2009. Financial terms were not disclosed.
