PepsiCo said today it’s reached an agreement to buy its two largest independent bottlers, including Minneapolis-based PepsiAmericas.
The acquisition attempts appeared to have lost their fizz after both bottlers’ boards rejected an offer that would have paid a combined $6 billion for the companies. The deal announced today has Pepsi paying a total of $7.8 billion for the companies. PepsiAmericas will get $28.50 per share, according to the press release.
CEO Robert Pohlad issued a brief statement about the deal:
“Over the past nine years, PepsiAmericas and each of our employees have helped build a remarkable organization. The success we have achieved is reflected in the agreement reached with PepsiCo.
“This agreement provides great value to our shareholders and an opportunity for them to participate in the unique potential of this combination. Bringing together these three great companies is bold and strategically innovative, and will create a system unmatched in our industry.”