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News Breaks
February 21, 2014
08:01 EDTKOCoca-Cola announces LOIs with two new bottling partners
The Coca-Cola Company announced that it had signed Letters of Intent for the granting of territories in the greater Chicago area to J. Christopher and M. Jude Reyes of Reyes Holdings, L.L.C., and in Central Florida - including Tampa/St. Petersburg - to Troy Taylor, who will be the Chairman and CEO of the new Florida bottler. The two new transactions announced today are subject to the parties reaching Definitive Agreements during 2014. The parties are committed to working together to implement a smooth transition with minimal disruption for customers, consumers and System associates. Financial terms were not disclosed.
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August 29, 2014
16:18 EDTKOCoca-Cola Bottling forms pact with Coca-Cola to expand franchise territory
Coca-Cola Bottling Co. (COKE) announced it has signed a definitive agreement with The Coca-Cola Company (KO) to expand the bottlerís franchise territory to include the Knoxville, TN territory currently served by Coca-Cola Refreshments USA, a wholly-owned subsidiary of The Coca-Cola Company. This agreement represents the second phase of the proposed franchise territory expansion described in the previously-announced Letter of Intent between the company and The Coca-Cola Company. The company expects the transaction to close by the end of October. The company is continuing to work towards a definitive agreement with The Coca-Cola Company for the remainder of the proposed franchise territory expansion described in the previously-announced Letter of Intent, including Cleveland and Cookeville, TN and Louisville, Lexington, Paducah and Pikeville, KY and Evansville, IN. The definitive agreement and other agreements to be entered into at closing will provide the Company the exclusive rights to distribute brands owned by The Coca-Cola Company as well as certain other brands not owned by The Coca-Cola Company that are currently being distributed in the Knoxville territory by CCR. The transaction includes the purchase by the Company of distribution assets and certain working capital items from CCR relating to this territory and the purchase of exclusive rights to distribute certain non-Coca-Cola brands in this territory. The transaction also includes the grant by CCR to the Company of exclusive rights to distribute brands owned by The Coca-Cola Company in this territory under a comprehensive beverage agreement to be entered into at closing. Under such agreement, the Company will make a quarterly sub-bottling payment to CCR on a continuing basis after the closing for the grant of such exclusive rights. The Company will not acquire any production assets from CCR and will, with certain exceptions, purchase finished goods from CCR to service customers in this territory.
August 27, 2014
16:05 EDTKOKeurig Green Mountain expands board, appoints Josť Octavio Reyes Lagunes
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August 26, 2014
06:20 EDTKOCoca-Cola to introduce mid-calorie soda in Mexico, WSJ reports
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