PURCHASE, N.Y. PepsiCo announced it has almost completed the merger agreements with The Pepsi Bottling Group and PepsiAmericas to acquire all of the outstanding shares of common stock it does not already own in its two largest anchor bottlers.
PepsiCo will be acquiring approximately $7.8 billion total value of shares and will create one of the largest food and beverage companies globally. Due to higher cost efficiency and improved revenue opportunities, the company combination will create annual pre-tax synergies of $300 million by 2012.
"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," said PepsiAmericas chairman and CEO Robert C. Pohlad.