The world's No. 2 soft-drink maker, which on Friday closed its $7.8 billion purchase of Pepsi Bottling Group and PepsiAmericas, also said it still expected earnings to grow 11 percent to 13 percent on a constant-currency basis in 2010 from $3.71 per share last year.

Pepsi archrival Coca-Cola Co surprised Wall Street last week with a similar move to buy the North American operations of bottler Coca-Cola Enterprises Inc.

Bringing the bottlers in-house will speed up distribution to major reta...