PBV LLC Signs Letter of Intent to Acquire Pepsi-Cola Roxboro
Purchase Will Expand PBV Distribution Territory to Four North-Central North Carolina Counties
Raleigh, N.C. – Pepsi Bottling Ventures LLC (PBV) today announced that it has signed a Letter of Intent (LOI) to purchase Pepsi-Cola Roxboro, the Pepsi-Cola franchise bottler based in Roxboro, N.C. The acquisition of Pepsi-Cola Roxboro expands PBV’s distribution territory to the north-central North Carolina counties of Caswell, Person, and Granville and includes a partial area of Orange County.
“We are excited to continue to provide the same quality Pepsi products consumers have come to know and love throughout north-central North Carolina,” said Paul Finney, president and CEO of Pepsi Bottling Ventures LLC. “I am impressed with how the Burnett family and Pepsi-Cola Roxboro have conducted their operations, and I look forward to a continuity of service to their current customer base and the opportunity to welcome new customers into the PBV family.”
Pepsi-Cola Roxboro traces its origins back to 1906 when founder Marvin Brantley Burnett began a career in sales at the then-named Pepsi-Cola Bottling Company of Raleigh. The company currently has 45 employees and is owned and operated by the fourth and fifth generation of the Burnett family – President Tom Burnett, his sister Paige Burnett Fitzgerald as Secretary, his brother-in-law Jeff Fitzgerald as Vice President, and their sons Grey Burnett and Hunt Fitzgerald as Treasurer and Assistant Secretary. In fiscal year 2020, Pepsi-Cola Roxboro sold over 1 million total trade cases.
“Coming to this decision during a global pandemic was not easy. But after much discussion and considerable forethought with the family, we feel that it’s the right decision and that PBV is the right choice to take over our operations,” said Tom Burnett, president of Pepsi-Cola Roxboro. “We are committed to a seamless transition with PBV and look forward to working with them throughout the process.”
The terms of the LOI provide for a closing by March 19.
About Pepsi Bottling Ventures LLC
Pepsi Bottling Ventures LLC (PBV) is the largest privately-held manufacturer, seller, and distributor of Pepsi-Cola beverages in North America. With 16 distribution locations in North Carolina, South Carolina, Maryland, and Delaware, PBV serves some of the most recognized beverage brands to over 9 million consumers. PBV is headquartered in Raleigh, N.C.