Local beverage bottler PepsiAmericas was left behind when PepsiCo and Pepsi Bottling Group announced plans to invest $1 billion in Russia.
But the company isn’t moping at home. Instead, it’s struck a deal in the Caribbean. PepsiAmericas today announced a joint venture deal with the Central America Beverage Corp. that will combine their operations in Central America and the Caribbean, excluding the Bahamas.
“Our Caribbean business combined with CABCORP is a great fit, providing scale, expertise and a strong platform for growth and geographic expansion,” PepsiAmericas COO Kenneth Keiser said in the company’s statement.
Under the agreement, CABCORP will own 82 percent of the joint venture, with PepsiAmericas owning the remaining 18 percent.