PepsiAmericas finalizes joint venture with CABCORP
July 06, 2009
by Eric Schroeder
MINNEAPOLIS — PepsiAmericas, Inc. and Central America Beverage Corp. (CABCORP) have completed the joint venture that will combine PepsiAmericas’ Caribbean business, excluding the Bahamas, with CABCORP’s Central American operations, including Guatemala, Honduras, El Salvador and Nicaragua.
As part of the agreement, CABCORP will control 82% of the joint venture, with PepsiAmericas controlling the remaining 18%. CABCORP is the oldest franchise of Pepsi in Latin America, and has been distributing, manufacturing and selling Pepsi-Cola products since 1942.
PepsiAmericas is the world’s second-largest manufacturer, seller and distributor of PepsiCo beverages, and had 2008 sales of $4.9 billion.
"Our Caribbean business combined with CABCORP is a great fit, providing scale, expertise and a strong platform for growth and geographic expansion," said Kenneth E. Kaiser, president and chief operating officer, PepsiAmericas.