Pepsi-Cola Puerto Rico Bottling Company Completes Sale of Control

Pepsi-Cola Puerto Rico Bottling Company have announced the completion of transactions that resulted in the sale of a controlling interest in the company. P-PR Transfer, LLP, a joint venture between Pohlad Companies and a division of PepsiCo, Inc., was joined by V. Suarez & Co. Inc. Following the transactions, P-PR and V. Suarez hold approximately 41.7% and 10.4% of the overall shares and 62.3% and 15.6% of the voting control of the company.

The company also announced the resignation of six members of its board of directors and the appointment of new directors designated by P-PR. The remaining director, Basil Vasiliou has been joined by Christopher Clouser; senior vice president-administration, Northwest Airlines, Inc., Philip Hughes; Hughes Investments, Inc., Robert Pohlad; president, CEO, Pohlad Companies, Diego Suarez; president, CEO, V. Suarez & Co., Inc., Craig Weatherup; chairman, CEO, Pepsi-Cola Company, John Woodhead; private investor and Raymond Zehr, Jr.; vice president, Pohlad Companies.

Pepsi-Cola Puerto Rico Bottling Company distributes and markets Pepsi and other soft drinks. Founded in 1987, Pepsi-Cola Puerto Rico Bottling Company is the first Caribbean soft drink bottler to list its shares on the New York Stock Exchange.

Pohlad Companies, through its subsidiaries, is the third largest Pepsi-Cola bottler in the United States that is not majority owned by PepsiCo. In addition to its interest in P-PR, Pohlad Companies owns Dakota Beverage Company, Inc.

V. Suarez & Co., Inc. distributes and markets numerous consumer products throughout Puerto Rico in the beverage, food, household goods and toy segments.