 Britvic also claims that the name alluded to 7-Up being packaged in 7-ounce bottles when Coca-Cola and most other drinks were bottled in 6-ounce bottles. The 7-Up company was privately owned by its founding families until it was sold in 1978 to Philip Morris Corporation. Yeah, the cigarette company sold it in 1986 in two parts to PepsiCo.