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  		UNITED STATES<BR>
  	SECURITIES AND EXCHANGE COMMISSION
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  	WASHINGTON, D.C. 20549
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  	FORM 8-K
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  	CURRENT REPORT
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  	Pursuant to Section&nbsp;13 or 15(d) of the Securities Exchange Act of 1934
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  	Date of Report (Date of Earliest Event Reported):
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  	&nbsp;
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  	March 1, 2007
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  <!-- CoverPageTitle END --><!-- CoverPageRegistrant START -->
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  	The Pepsi Bottling Group, Inc.
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  <BR>__________________________________________<BR>
  	(Exact name of registrant as specified in its charter)
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  	Delaware
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  	1-14893
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  	13-4038356
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  _____________________<BR>
  	(State or other jurisdiction
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  _____________<BR>
  	(Commission
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  ______________<BR>
  	(I.R.S. Employer
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  	of incorporation)
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  	File Number)
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  	Identification No.)
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  	&nbsp;&nbsp;
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  	&nbsp;
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  	One Pepsi Way, Somers, New York
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  	&nbsp;
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  	10589
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  _________________________________<BR>
  	(Address of principal executive offices)
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  	&nbsp;
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  ___________<BR>
  	(Zip Code)
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  	Registrant&#146;s telephone number, including area code:
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  	&nbsp;
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  	(914) 767-6000
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  	Not Applicable
  <BR>______________________________________________<BR>
  	Former name or former address, if changed since last report
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  <FONT SIZE="2">
  	&nbsp;
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  <!-- CoverPageRegistrant END --><P><FONT SIZE="2">
  Check the appropriate box below if the Form 8-K filing is intended to
  simultaneously satisfy the filing obligation of the registrant under any
  of the following provisions:</FONT>
  </P>
  <P><FONT SIZE="2">
  [&nbsp;&nbsp;]&nbsp;&nbsp;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)<br>
  [&nbsp;&nbsp;]&nbsp;&nbsp;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<br>
  [&nbsp;&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<br>
  [&nbsp;&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))<br>
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  <B>
  	Item 1.01 Entry into a Material Definitive Agreement.
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  On March 1, 2007, The Pepsi Bottling Group, Inc. ("PBG"), through its subsidiary PBG Ireland Limited ("PBG Ireland"), and PepsiCo, Inc. ("PepsiCo"), through its subsidiary PepsiCo (Ireland) Limited ("PepsiCo Ireland"), entered into the private limited company agreement (the "Agreement") of PR Beverages Limited ("PR Beverages") for the purpose of forming a new joint venture of the companies' businesses in the Russian Federation ("Russia").  Under the Agreement, PBG Ireland will own sixty percent and PepsiCo Ireland will own forty percent of PR Beverages.  PBG will contribute all of its tangible and intangible assets in Russia to PR Beverages.  PepsiCo will issue to PR Beverages bottling appointments for PepsiCo beverage products in Russia on the same terms as in effect for PBG immediately prior to March 1, 2007.  PepsiCo, through its subsidiaries, will also grant PR Beverages an exclusive license to manufacture and sell the concentrate for such products in Russia.  Each party will also contribute cash or issue notes to PR Beverages.    <br><br>PR Beverages will be governed by an eight-member board of directors with each of PBG Ireland and PepsiCo Ireland having the right to appoint four directors.  In the event of a tie vote by the board, the Chief Executive Officer of PBG is entitled to cast the deciding vote, subject to PepsiCo's right to veto certain limited matters, including a significant acquisition or disposition outside the ordinary course of business, a related party transaction involving PBG, and the issuance of new shares in PR Beverages.  The day-to-day operations of PR Beverages in Russia will be managed by PBG's existing team in Russia pursuant to the terms of an annual operating plan approved by the board.  <br><br>PepsiCo is a significant shareholder of PBG and owns approximately forty-four percent of the voting power of all classes of PBG's voting stock.
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  <B>
  	Item 8.01 Other Events.
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  PBG will consolidate the financial results of PR Beverages.  The attached press release, which is incorporated by reference into this Item 8.01, includes information related to the impact of PBG's consolidation of PR Beverages on PBG's 2007 financial statements.  <br>
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  	Item 9.01 Financial Statements and Exhibits.
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  (a)    Not Applicable.<br><br>(b)    Not Applicable.<br><br>(c)    Not Applicable.<br><br>(d)    Exhibit 99.1 - Press release dated March 1, 2007, which is being filed hereto pursuant to Item 8.01.<br><br>
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  	SIGNATURES
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  	Pursuant to the requirements of the Securities Exchange Act of 1934, the
  	registrant has duly caused this report to be signed on its behalf by the
  	undersigned hereunto duly authorized.
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  	The Pepsi Bottling Group, Inc.
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  	&nbsp;&nbsp;
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  <I>
  	March 2, 2007
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  	&nbsp;
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  <I>
  	By:
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  <I>
  	/s/ David Yawman
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  <BR>
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  	&nbsp;
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  <I>
  	Name: David Yawman
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  	&nbsp;
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  <I>
  	Title: Vice President, Assistant General Counsel and Assistant Secretary
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  	Exhibit&nbsp;Index
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  	Exhibit No.
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  	&nbsp;
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  	Description
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  	99.1
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  	&nbsp;
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  Press release dated March 1, 2007
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metadata_documents: [{"type": "8-K", "sequence": "1", "filename": "htm_18608.htm", "description": "LIVE FILING", "secsgml_size_bytes": 12229}]
metadata_filer: {"company-data": {"conformed-name": "PEPSI BOTTLING GROUP INC", "cik": "0001076405", "assigned-sic": "2080", "irs-number": "134038356", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-14893", "film-number": "07667052"}, "business-address": {"street1": "ONE PEPSI WAY", "city": "SOMERS", "state": "NY", "zip": "10589-2201", "phone": "9147676000"}, "mail-address": {"street1": "ONE PEPSI WAY", "city": "SOMERS", "state": "NY", "zip": "10589-2201"}}
text: The Pepsi Bottling Group, Inc. (Form: 8-K)
  UNITED STATES
  SECURITIES AND EXCHANGE COMMISSION
  WASHINGTON, D.C. 20549
  FORM 8-K
  CURRENT REPORT
  Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
  Date of Report (Date of Earliest Event Reported):
  March 1, 2007
  The Pepsi Bottling Group, Inc.
  __________________________________________
  (Exact name of registrant as specified in its charter)
  Delaware
  1-14893
  13-4038356
  _____________________
  (State or other jurisdiction
  _____________
  (Commission
  ______________
  (I.R.S. Employer
  of incorporation)
  File Number)
  Identification No.)
  One Pepsi Way, Somers, New York
  10589
  _________________________________
  (Address of principal executive offices)
  ___________
  (Zip Code)
  Registrant's telephone number, including area code:
  (914) 767-6000
  Not Applicable
  ______________________________________________
  Former name or former address, if changed since last report
  Check the appropriate box below if the Form 8-K filing is intended to
  simultaneously satisfy the filing obligation of the registrant under any
  of the following provisions:
  [  ]  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
  [  ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
  [  ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
  [  ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
  Top of the Form
  Item 1.01 Entry into a Material Definitive Agreement.
  On March 1, 2007, The Pepsi Bottling Group, Inc. ("PBG"), through its subsidiary PBG Ireland Limited ("PBG Ireland"), and PepsiCo, Inc. ("PepsiCo"), through its subsidiary PepsiCo (Ireland) Limited ("PepsiCo Ireland"), entered into the private limited company agreement (the "Agreement") of PR Beverages Limited ("PR Beverages") for the purpose of forming a new joint venture of the companies' businesses in the Russian Federation ("Russia").  Under the Agreement, PBG Ireland will own sixty percent and PepsiCo Ireland will own forty percent of PR Beverages.  PBG will contribute all of its tangible and intangible assets in Russia to PR Beverages.  PepsiCo will issue to PR Beverages bottling appointments for PepsiCo beverage products in Russia on the same terms as in effect for PBG immediately prior to March 1, 2007.  PepsiCo, through its subsidiaries, will also grant PR Beverages an exclusive license to manufacture and sell the concentrate for such products in Russia.  Each party will also contribute cash or issue notes to PR Beverages.
  PR Beverages will be governed by an eight-member board of directors with each of PBG Ireland and PepsiCo Ireland having the right to appoint four directors.  In the event of a tie vote by the board, the Chief Executive Officer of PBG is entitled to cast the deciding vote, subject to PepsiCo's right to veto certain limited matters, including a significant acquisition or disposition outside the ordinary course of business, a related party transaction involving PBG, and the issuance of new shares in PR Beverages.  The day-to-day operations of PR Beverages in Russia will be managed by PBG's existing team in Russia pursuant to the terms of an annual operating plan approved by the board.
  PepsiCo is a significant shareholder of PBG and owns approximately forty-four percent of the voting power of all classes of PBG's voting stock.
  Item 8.01 Other Events.
  PBG will consolidate the financial results of PR Beverages.  The attached press release, which is incorporated by reference into this Item 8.01, includes information related to the impact of PBG's consolidation of PR Beverages on PBG's 2007 financial statements.
  Item 9.01 Financial Statements and Exhibits.
  (a)    Not Applicable.
  (b)    Not Applicable.
  (c)    Not Applicable.
  (d)    Exhibit 99.1 - Press release dated March 1, 2007, which is being filed hereto pursuant to Item 8.01.
  Top of the Form
  SIGNATURES
  Pursuant to the requirements of the Securities Exchange Act of 1934, the
  	registrant has duly caused this report to be signed on its behalf by the
  	undersigned hereunto duly authorized.
  The Pepsi Bottling Group, Inc.
  March 2, 2007
  By:
  /s/ David Yawman
  Name: David Yawman
  Title: Vice President, Assistant General Counsel and Assistant Secretary
  Top of the Form
  Exhibit Index
  Exhibit No.
  Description
  99.1
  Press release dated March 1, 2007