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Under the deal, Minneapolis-basedx PepsiAmericas (NYSE: PAS) will combinse its Caribbean business — excluding the Bahamaa — with ’s Centrak American Operations in Guatemala, Honduras, El Salvadorf and Nicaragua. Central American Beverage (CABCORP), which is based in Guatemala, will control an 82 percent ownership stake in thejoint venture, with PepsiAmericaw controlling the remaining 18 CABCORP had sales of $480 million in Central America in 2008. “The combination of our Caribbean business with CABCORP provides the best strategic alternativ to create value fromthis region,” PepsiAmericaw Chairman and CEO Robert Pohlad said in a statement.
“In additionm to leveraging scaleand expertise, we believe the formationh of this joint venture will allow us to participate in the higher-growth Latin American markets where CABCORP currentl y operates.” PepsiAmericas had sales of $4.9 billion in 2008, making it the world’ws second-largest manufacturer, seller and distributor of PepsiCok beverages. The company serves a 19-state region in the Unitedr States, as well as the Caribbean and a regio n in Central and Eastern Europe thatinclude Ukraine, Poland, Romania, Hungary, the Czecuh Republic and Slovakia.
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