Coca-Cola Bottling Consolidated has signed a definitive agreement with The Coca-Cola Company to provide its distribution services in Cleveland and Cookeville, in Tennessee which are currently being served by Coca-Cola Refreshments USA (CCR).
The agreement forms a part of the previously-announced Letter of Intent between the Company and The Coca-ColaCompany for franchise territory expansion.
Under the agreed terms, the company will secure 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 Cleveland and Cookeville territories by CCR.
Coca-Cola Consolidated chairman and CEO J. Frank Harrison III said, "We are pleased to announce the signing of a definitive agreement for another phase of our previously announced transaction with The Coca-Cola Company.
"The signing of this definitive agreement represents one of the final steps in completing our expansion in the state of Tennessee as the Company will hold distribution rights in the significant majority of territory in eastern and central Tennessee upon completion of this transaction. We look forward to serving the Cleveland and Cookeville communities - including our customers, consumers, and new employees there."
Coca-Cola Bottling Consolidated is currently looking to expand its distribution services to Louisville, Paducah and Pikeville, Kentucky and Evansville, Indiana.
Earlier this year, The Coca-Cola Company, SABMiller and Gutsche Family Investments have announced plans to merge their non-alcoholic ready-to-drink beverage bottling operations in Southern and East Africa.
The new bottler Coca-Cola Beverages Africa will cater to 12 countries accounting for approximately 40% of all Coca-Cola beverage volumes in Africa.
