PepsiAmericas Inc. today announced that it has formed a joint venture that has completed the purchase of Agrima JSC. Agrima produces, sells and distributes PepsiCo branded products and other beverages throughout Bulgaria. PepsiAmericas initially owns 20% of the joint venture.
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.
“This investment further demonstrates our commitment to expand and grow our international business in a disciplined way,” said Robert C. Pohlad, Chairman and CEO of PepsiAmericas. “Agrima fits this strategy giving us a foothold in a growing economy with an emerging beverage market.” The expansion into Bulgaria marks the company’s second European investment this year following the previously announced expansion into Ukraine. (press release)