PepsiCo Forms New Bottling Unit

PURCHASE, N.Y. (TheStreet) -- PepsiCo(PEP Quote) announced plans for a new bottling entity following the closing of mergers with its two largest bottlers.

PepsiCo said Monday the unit will be called PepsiCo Bottling North America, and will consolidate operations for Pepsi Bottling Group(PBG Quote) and PepsiAmericas(PAS Quote) after mergers with the two entities are completed. PepsiCo said the new entity will make up some three-quarters of PepsiCo's North American bottling volume.

Eric Foss, CEO of Pepsi Bottling Group, will take the helm of the newly formed PBNA and will report to PepsiCo CEO Indra Nooyi.

-- Written by Sung Moss in New York

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