P.M. BRIEFING : Pepsico May Buy Perrier Unit
Pepsico, eager to boost sales in France to catch up with dominant rival Coca-Cola Co., will consider buying Perrier’s soft drinks subsidiary if the price comes down, a senior Pepsi official said today.
Perrier, the French mineral water group, said Tuesday that it was selling its soft drinks unit, which makes the popular Pschitt sodas, for between $272 million and $400 million.
“The acquisition of Perrier’s soft drinks unit is one among a list of options for our activities in France,” said Stuart Haugen, Pepsi’s general manager for France and Belgium. “Other acquisitions, joint ventures and investment to boost our own Pepsi brands are also a possibility,” he added.
Industry analysts said another possible buyer for the Perrier unit is Britain’s Cadbury-Schweppes.
Perrier put its soft drinks unit up for sale one day after Pepsi said it would end its franchise relationship with Perrier at the end of next year, citing poor sales.
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