The Pepsi Bottling Group, Inc. (NYSE:PBG) today announced that it has signed a Letter of Intent to acquire Better Beverages, Ltd., a Pepsi-Cola and Dr Pepper franchised bottler that serves portions of central Texas.
The Hallettsville, TX-based Better Beverages was founded in 1925 by H.J. Campbell. It currently employs approximately 180 people and does business in 20 counties across Texas. Better Beverages operates a production facility in Hallettsville, as well as three satellite warehouses in Wharton, TX, Victoria, TX and Brenham, TX.
“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,” said PBG Chairman and Chief Executive Officer Eric Foss. “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 organization.”
Better Beverages has been under the leadership of the Campbell family since it began. H.J. Campbell’s son, R.J., assumed a leadership role following World War II. Two of R.J. Campbell’s sons, Dale and Alan, took over in 1985 and continue to lead the company today.
The transaction is expected to be completed during the second quarter of 2009. Financial terms were not disclosed.