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Pepsi Americas invests in Bulgarian bottling operation

Date: 10.09.2007

Minneapolis-based Pepsi Americas, Inc. announced that it has formed a joint venture when it purchased Agrima, a company that sells and distributes PepsiCo branded products in Bulgaria.

PepsiAmericas said that it owns 20% of the joint venture, but plans to increase its stake to 100% by 2012.

Terms of the transaction were not disclosed.

"This investment further demonstrates our commitment to expand and grow our international business in a disciplined way," said Robert C. Pohlad, Chairman and Chief Executive Officer of PepsiAmericas.

"Agrima fits this strategy giving us a foothold in a growing economy with an emerging beverage market."

The company said its expansion into Bulgaria marks the company's second European investment this year. In August, PepsiAmericas and PepsiCo completed a joint purchase of a portion of Ukrainian juice company Sandora.

PepsiAmericas is the second largest Pepsi bottler with operations in the US, Central Europe, and the Caribbean. PepsiAmericas manufactures, distributes and markets a broad portfolio of PepsiCo branded products, and other national and regional brands.

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