Three First Nations-owned and operated companies are teaming up to acquire Arctic Beverages, a Pepsi franchise company that services northern communities.

Athabasca Basin Development, Prince Albert Development Corp,, and Paskwayak Business Development say they understand the challenging logistics in northern Canada — and that’s why they have entered into an agreement to purchase the Pepsi franchise company. Geoff Gay, CEO of Athabasca Basin Development, says he looks forward to growing the company to its full potential:

“As in any deal that Athabasca Basin does, it really just continues to add to the strength of our company and positions us so we can continue to be sustainable over the long term, so that our company can be around in 10, 20, 30 40 years.  And purchases like Arctic Beverages involved companies that have fairly sustainable business plans.”

Existing management and employees will continue to operate the business as usual.  Arctic Beverages services northern Manitoba, portions of northern Saskatchewan, northwestern Ontario and Nunavut.

Gay says this deal is a win-win for all parties involved:

“The process happened over two to three weeks and we quickly came together as a three-group consortium. Our values are very similar — we are looking to grow our respective business we are very familiar with the northern climate, so it was a good fit for all three parties.”

Arctic Beverages will continue serving as a PepsiCo partner.