Coca-Cola Signs LoI With Three U.S. Bottlers - Quick Facts

(RTTNews) - Beverages giant Coca-Cola Co. (KO) said it has signed letters of intent or LOI with three U.S. bottlers to grant expanded distribution territories in five states as it continues to accelerate the pace of territory refranchising.

In each territory, Coca-Cola will grant exclusive rights to these bottlers for the sale and distribution of bottler-delivered Coca-Cola beverages. In addition, Coca-Cola Refreshments or CCR, the company-owned U.S. bottler, will sell its sales and distribution assets to the expanding local bottling partner.

Coca-Cola Beverages Florida, based in Tampa, will assume additional territory in southeastern Florida. Coca-Cola Bottling Co. United, based in Birmingham, Alabama, will assume additional territories in north and central Georgia. Viking Coca-Cola Bottling Company, based in St. Cloud, Minnesota, will assume territory in portions of northern Minnesota.

Coca-Cola has also reached definitive agreements on LOIs announced earlier in 2015. Clark Beverage Group will assume additional markets in Mississippi, while Chesterman Co. will assume new territory in Nebraska and western Iowa, including the Omaha and Lincoln markets.

Further, Coca-Cola has reached definitive agreements on LOIs announced in September 2015 with three National Product Supply or NPSS bottlers for the sale of production facilities.

Coca-Cola Bottling Co. Consolidated will acquire production facilities in Sandston, Virginia, and Baltimore and Silver Spring in Maryland. Coca-Cola Bottling Co. United will acquire the production and distribution facility in New Orleans, Louisana. Swire Coca-Cola USA will acquire production facilities in Phoenix, Arizona and Denver, Colorado.