Pepsi Bottling Ventures Plans Two Acquisitions
Pepsi Bottling Ventures LLC (PBV) signs a Letter of Intent (LOI) to purchase the Nagel Beverage Company of Boise and the Pepsi-Cola Bottling Company of Twin Falls, both Pepsi-Cola independent franchise bottlers based in Idaho. The terms of the LOI provide for a closing by the end of February 2009.
The companies' franchise territory includes 18 southern Idaho counties known for their seasonal climate, breathtaking scenery, and blend of vibrant cities and agricultural communities. The territory also includes the resort area of Sun Valley, one of the top five ski destinations in the country. The Boise region is consistently recognized nationally as one of the best places to live and work in the United States.
Nagel Beverage was established in 1895 by John Nagel Sr. Meanwhile, Pepsi-Cola Bottling of Twin Falls was established in 1935 as a Nagel-Levander family partnership. Nagel family-owned businesses have a state-of-the-art manufacturing and sales distribution facility in Nampa, Idaho, and sales distribution centers in Twin Falls, McCall, and Sun Valley, Idaho.
PBV President and Chief Executive Officer Keith Reimer says, "We have great admiration for the strong Pepsi franchise the Nagel family has built in Idaho. We believe our two companies share a common heritage of valuing tradition, a commitment to the communities we serve, and building our business on the foundation of relationships and customer service. We welcome Nagel Beverage and Twin Falls Pepsi to the PBV family."
Pepsi Bottling Ventures LLC is the nation's third largest anchor bottler for Pepsi-Cola, operating 23 manufacturing, distribution and sales facilities serving more than eight million consumers in North Carolina, New York, Delaware, Maryland, Virginia and Vermont. PBV is headquartered in Raleigh, N.C.
The companies' franchise territory includes 18 southern Idaho counties known for their seasonal climate, breathtaking scenery, and blend of vibrant cities and agricultural communities. The territory also includes the resort area of Sun Valley, one of the top five ski destinations in the country. The Boise region is consistently recognized nationally as one of the best places to live and work in the United States.
Nagel Beverage was established in 1895 by John Nagel Sr. Meanwhile, Pepsi-Cola Bottling of Twin Falls was established in 1935 as a Nagel-Levander family partnership. Nagel family-owned businesses have a state-of-the-art manufacturing and sales distribution facility in Nampa, Idaho, and sales distribution centers in Twin Falls, McCall, and Sun Valley, Idaho.
PBV President and Chief Executive Officer Keith Reimer says, "We have great admiration for the strong Pepsi franchise the Nagel family has built in Idaho. We believe our two companies share a common heritage of valuing tradition, a commitment to the communities we serve, and building our business on the foundation of relationships and customer service. We welcome Nagel Beverage and Twin Falls Pepsi to the PBV family."
Pepsi Bottling Ventures LLC is the nation's third largest anchor bottler for Pepsi-Cola, operating 23 manufacturing, distribution and sales facilities serving more than eight million consumers in North Carolina, New York, Delaware, Maryland, Virginia and Vermont. PBV is headquartered in Raleigh, N.C.