PepsiAmericas Inc has acquired 49% in the outstanding common stock of Quadrant Amroq Bottling Company Limited (QABCL) for 51 million dollars. QABCL is a holding company that, through subsidiaries, produces, sells and distributes Pepsi and other beverages throughout Romania.
The business was developed by a group of Israeli businessmen, headed by Eli Davidai.
a??We are enthusiastic about our investment in QABCL and the expansion of our international territory,a?? said Ken Keiser, president and chief operating officer of PepsiAmericas.
He added that the acquisition gave the American company the opportunity to leverage its position in this key region, due to Romaniaa??s improving economic condition, matched with a developing beverage market.
a??QABCL and its balanced product portfolio occupies a significant market share position in Romania and has enjoyed doubled digit volume and profit growth in recent years,a?? added Keiser.
Robert C. Pohlad, chairman and chief executive officer of PepsiAmericas in his turn specified that for the last four years the company focused on improving sales and distribution of Pepsi products in Central Europe. The company has also been looking for acquisitions or partnerships to expand its portfolio and its geographic presence. The investment in Romania was accretive to the companya??s earnings. Pohlad said, adding this acquisition also made it possible for PepsiAmericas to expand further its beverage and snack presence in the Balkan region.
PepsiAmericas is worlda??s second-largest manufacturer, seller and distributor of Pepsi-Cola beverages with operations in 19 U.S states, Poland, Hungary, the Czech Republic and Slovakia, and the Caribbean region.
Quadrant Amroq Bottling Company Limited (QABCL) comprises several companies such as Quadrant Amroq Beverages SA, which makes, sells and distributes the Pepsi, Mirinda, 7-UP, Mountain Dew, Prigat and Lipton Ice Tea in Romania.
Quadrant Amroq Beverages has two facilities in Bucharest that manufacture soft drinks and one in Covasna that makes mineral water. The company logged more than 100 million dollar turnover in 2004, an increase of 42% on 2003.
Snack Ventures Europe, a joint venture held by PepsiCo and General Mills acquired Star Foods last November, the largest producer and distributor of snacks in Romania. The value of the deal has not been revealed yet.
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