Pepsi Bottling Continues Buying Binge

Pepsi Bottling(PBG Quote) appears to be on a mission to prove who is the biggest and best bottler around -- or, at the very least, to prove that it's worth more than the $4 billion that was offered by PepsiCo(PEP Quote) in its takeover bid last month.

Pepsi Bottling says it's purchasing yet another bottler, this time Ab-Tex Beverage in Texas. The terms of the deal were not disclosed.

Ab-Tex Beverage, which has been owned by the Massey family for more than 70 years, distributes Pepsi-Cola, Mountain Dew, 7Up and Sunkist in central Texas.

Since rejecting the buyout offer from PepsiCo in May, Pepsi Bottling has announced plans to acquire five bottlers, including Better Beverages and Pepsi-Cola Bottlers.

PepsiCo offered to purchase Pepsi Bottling and PepsiAmericas(PAS Quote) for $6 billion, but the companies rejected the bid, saying the asking price was too low.