Purchase-based PepsiCo and two of its independent bottling and distribution firms have agreed to a three-way territory swap in which the firm that controls distribution in Westchester County and the boroughs of New York City would add nearby Nassau and Suffolk counties, the companies announced Wednesday.
Pepsi Bottling Ventures is a joint undertaking between majority owner Suntory Holdings, based in Osaka, Japan, and PepsiCo.
PBV, meanwhile, would sell rights to distribute in Nassau and Suffolk to the Pennsauken, N.J.-based Honickman Group's Pepsi-Cola Bottling Company of New York. The Honickman Group controls distribution in Westchester.
A PepsiCo executive said that the deal is designed to consolidate operations geographically.
"This move drives operating efficiencies and improved customer service, one of our top priorities," Al Carey, chief executive of PepsiCo Americas Beverages, said in a statement. "Our strong independent bottlers will continue to play a big role in helping us do that -- especially at the local level."
The sale price for the Nassau and Suffolk territories was not disclosed.