Pepsi Bottling Ventures Signs Letter of Intent to Acquire Bottling Businesses in Boise and Twin Falls, Idaho

PBV President and Chief Executive Officer Keith Reimer said, "We have great admiration for the strong Pepsi franchise the Nagel family has built in Idaho.

07/01/09 Pepsi Bottling Ventures, LLC (PBV) announced that it has signed a Letter of Intent to purchase the Nagel Beverage Company of Boise and the Pepsi-Cola Bottling Company of Twin Falls, both Pepsi-Cola independent franchise bottlers based in Idaho. The terms of the LOI provide for a closing by the end of February 2009. The Companies' franchise territory includes 18 southern Idaho counties known for their seasonal climate, breathtaking scenery, and unique blend of vibrant cities and agricultural communities. The territory also includes the resort area of Sun Valley, one of the top five ski destinations in the country. The Boise region is consistently recognized nationally as one of the best places to live and work in the US. Nagel Beverage was established in 1895 by John Nagel Sr., Pepsi-Cola Bottling of Twin Falls was established in 1935 as a Nagel-Levander family partnership. Nagel family-owned businesses have a state-of-the-art manufacturing and sales distribution facility in Nampa, Idaho and sales distribution centers in Twin Falls, McCall, and Sun Valley, Idaho. PBV President and Chief Executive Officer Keith Reimer said, "We have great admiration for the strong Pepsi franchise the Nagel family has built in Idaho. We believe our two companies share a common heritage of valuing tradition, a commitment to the communities we serve, and building our business on the foundation of relationships and customer service. We welcome Nagel Beverage and Twin Falls Pepsi to the PBV family."