PepsiCo has agreed in principle to swap five counties of its company-owned North Carolina territory – including Charlotte – to PBV in exchange for PBV’s 11 counties in Vermont and 18 counties in Idaho, which are contiguous to other PepsiCo-owned bottling territories.
PBV in turn has agreed to sell its Long Island, New York, territory, including Nassau and Suffolk counties, to the Honickman Group’s PCNY, which already operates in each of New York City’s five boroughs – Manhattan, the Bronx, Brooklyn, Queens and Staten Island – and New York’s Westchester County.
“This move drives operating efficiencies and improved customer service: one of our top priorities. Our strong independent bottlers will continue to play a big role in helping us do that – especially at the local level,” said Al Carey, CEO of PepsiCo Americas Beverages.
Terms of the transactions, which are expected to close in the second quarter of 2013, were not disclosed.
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