PepsiAmericas has set up a joint venture in Bulgaria

The american beverage company, which initially owns 20% of the joint venture, said that the new arrangements with Agrima will result in PepsiAmericas owning 100% of the joint venture as early as 2012.

 The company said that Agrima, which produces, sells and
distributes PepsiCo branded products and other beverages throughout
Bulgaria, will help it gain "a foothold in a growing economy with an
emerging beverage market". Financial details of the transaction were not
disclosed.
PepsiAmericas president and CEO Kenneth Keiser added:
"We are working with the same business partners we had in Romania to
increase scale in this market. Additionally, we intend to increase our
investment over time, with the first option in 2010."