RJ Corp-owned Varun Beverages Ltd (VBL) may acquire PepsiCo's company-owned bottling, sales and distribution operations in the South and West India, The Economic Times reported.

The deal, which is likely to happen this week itself, could be worth Rs 2,400 to Rs 2,700 crore, said the report citing a top official directly aware of the developments.

The potential acquisition will give VBL a national franchise ownership of the New York-based PepsiCo's India bottling operations, which holds the ownership for the Northern and Eastern part of the country, the report said.

PepsiCo, the manufacturer of Pepsi and Mountain Dew, is looking to divest its bottling operations globally to operate asset-light business across the world markets, the report said, adding that the large-scale deal will mobilise employees and assets.