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CALIFORNIA | FOOD | THE STATE

Dr Pepper to Acquire Seven-Up/RC Bottler

March 04, 1997|Times Staff and Wire Reports

Seven-Up/RC Bottling Co. of Southern California will be purchased by Dr Pepper Bottling Co. of Texas for more than $80 million in cash and assumed debt, creating the largest independent-system bottler in the U.S. The companies said the purchase price includes buying Seven-Up/RC Bottling's 5 million shares outstanding at $12 a share, an additional 1 million shares subject to the exercise of warrants and options, and assuming all of Seven-Up/RC Bottling's debt. The company had $18.2 million in outstanding debt as of Sept. 30, according to a Securities and Exchange Commission filing. Shares in Vernon-based Seven-Up/RC Bottling rose 25 cents to close at $11.625 in over-the-counter trading. Dr Pepper Bottling Co. of Texas is closely held.

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