Coca-Cola has signed letters of intent (LoI) with two new bottling partners related to granting of territories in the greater Chicago area, US.
The company has signed agreements with J Christopher and M Jude Reyes of Reyes and Troy Taylor, who will be the chairman and CEO of the new Florida bottler.
Reyes, which delivers around 800 million cases of beer and food products, has operations in North, Central and South America, along with Middle East and Asia Pacific.
Troy Taylor, who handled multiple Coca-Cola-related investments, will lead the new bottling company that will serve Central Florida, including Tampa/St Petersburg.
The new agreements include grant of exclusive territory rights and sale by Coca-Cola Refreshments (CCR) of distribution assets and cold drink equipment.
The deal will also facilitate future implementation of a national product supply system with finished goods model in which production assets will remain with CCR, as well as new beverage agreement that supports the evolving operating model.
Coca-Cola chairman and CEO Muhtar Kent said, "With the addition of these two partners we continue to transform our U.S. business and move closer to achieving our 2020 Vision."
Image: Coca-Cola executes agreements with US bottling partners. Photo: Courtesy of The Coca-Cola Company.
