PepsiCo snaps up top bottlers for $7.8b

MILWAUKEE, Wisconsin: PepsiCo Inc said it is buying its two top bottlers for $7.8 billion in a bid to save money and get new products to market more quickly.

The deals were sealed months after PepsiCo's first offers were rejected and 10 years after PepsiCo first spun off its largest bottler, Pepsi Bottling Group.

The company spun off its bottler a decade ago so it could concentrate more on the then-booming soft drink business. But in the years since, consumers have gravitated toward healthier options like juices and teas, leaving soft drink sales to slump.