Pepsi Bottling Group completes acquisition of Mass.-based bottler
SOMERS, N.Y. The Pepsi Bottling Group announced that it has completed its acquisition of Pepsi-Cola Bottlers for the Merrimack Valley, Inc. Financial terms of the transaction were not disclosed.
The Haverhill, Mass.-based company is a Pepsi-Cola franchised bottler serving northeastern Massachusetts.
PBG has now completed four U.S. bottler acquisitions since the beginning of 2008. The company also recently announced plans to acquire Ab-Tex Beverage, Ltd., a Pepsi-Cola and Dr Pepper bottler based in Abilene, Texas. The Ab-Tex transaction is expected to close in the third quarter.
Kimberly-Clark reports Q2 earnings
DALLAS Kimberly-Clark Corp. reported a 5.6% drop to $4.7 billion in its second-quarter net sales this year, while overall sales volumes faded 2%.
The company’s K-C professional and consumer tissue businesses felt the adverse affects of the current economy as the company’s global healthcare business sales surged 14%.
Diluted net income per share for the quarter was 97 cents, compared with 99 cents per share in 2008.
“Business conditions remained challenging in the second quarter, as the economic environment and weak foreign currency rates continued to impact our results. All-in-all, we made progress in a number of areas and expect to build on this performance with improved bottom-line results in the second half of the year,” said chairman and CEO Thomas J. Falk.
Hershey Co. gets sweet break for Q2
HERSHEY, Pa. The Hershey Co. announced sales and earnings for the second quarter ended July 5.
Sales were $1.17 billion, up 5.9% from last year. Second-quarter net income was approximately $71.3 million, or 31 cents per share, compared with $41.5 million, or 18 cents per share for the comparable period of 2008.
For the first six months of 2009, consolidated net sales were $2.41 billion, compared with $2.27 billion for the first six months of 2008. Reported net income for the first six months of 2009 was $147.2 million, or 64 cents per share, compared with $104.7 million, or 46 cents per share, for the first six months of 2008.
Hershey president and CEO David West said that the company’s performance during the first half of the year will give it the opportunity to increase brand-building advertising, which is what contributed to the spike in earnings.
Earlier this month, the company announced that it was closing its online gift service.