Pepsi dispute settled
on Thursday that they have reached an agreement to settle legal
action, pending since June 1999, involving the two long-time
business partners.
Pepsi-Cola North America (PCNA) and Marion Pepsi-Cola Bottling said on Thursday that they have reached an agreement to settle legal action, pending since June 1999, involving the two long-time business partners. Details of the settlement were not disclosed.
According to a joint statement from the two companies, the settlement "strengthens and ensures the continuation of the 67-year relationship between the parties". It only leaves unresolved issues relating to the constitutionality of an Illinois statute, which the two companies have asked the court to decide. The parties have agreed not to disclose the terms of the settlement.
"Marion Pepsi is delighted that the litigation is being brought to a conclusion in a manner beneficial to both parties," said Marion Pepsi chairman Harry L. Crisp II. "We can now get back to focusing exclusively on what really matters - serving our customers and meeting the needs of loyal Pepsi consumers."
Al Carey, chief operating officer of PepsiCo Beverages and Foods North America, added:"We are happy to have put this matter behind us and we look forward to working more closely with Marion Pepsi."
Marion Pepsi-Cola Bottling, based in Illinois, has been a bottler and distributor of Pepsi soft drink products since 1935.
