Raleigh-based Pepsi Bottling Ventures has completed its acquisition of a five-county territory around Charlotte in exchange for territories in Vermont and Idaho.
PepsiCo swapped five counties in its North Carolina territory for PBV's 11 counties in Vermont and 18 counties in Idaho.
Terms of the deal, which was announced in March, were not disclosed.
“This is an exciting time for PBV. We look forward to welcoming Pepsi Charlotte into the PBV family and serving consumers and trade customers in North Carolina’s largest city," said PBV President and CEO Paul Finney, in a statement.
"This acquisition will allow us to significantly expand our footprint in the Carolinas while adding scale and leveraging our operating capability across PBV’s regional core.”