PepsiCo has completed the takeover of its two largest bottlers, Pepsi Bottling Group and PepsiAmericas, as expected.

PepsiCo is expected to formally announce details regarding the merged companies today (1 March).

In addition, Dr Pepper Snapple Group (DPS) has completed the licensing of certain brands to PepsiCo following the acquisitions. DPS received a one-time cash payment of US$900m before taxes and other related fees and expenses as a result of the deal.

The company used a portion of these proceeds to reduce its total debt obligations to $2.55bn, in-line with its target capital structure of approximately 2.25 times total debt to EBITDA after certain adjustments.

“Having achieved our capital structure target less than two years after going public, and with a focus on growing the business organically, we are now committed to returning excess cash to shareholders over time,” said Larry Young, DPS president and CEO. 

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