Coca-Cola Unveils LoI With Two New Bottling Partners - Quick Facts

(RTTNews) - Beverages giant Coca-Cola Co. (KO) reported the signing of 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 would become the Chairman and Chief Executive of the new Florida bottler. While the financial terms were kept undisclosed, these two new transactions are subject to the parties reaching definitive deals during 2014. The parties are committed to working together to implement a smooth transition with minimal disruption for customers, consumers and System associates.

Reyes Holdings' operations span North, Central and South America, as well as Europe, the Middle East and Asia Pacific. Annually, the company delivers over 800 million cases of high-quality, well-known beer and food products from 120 strategically located warehouses.

Troy Taylor would be the Chairman and Chief Executive of the new bottling company that would serve Central Florida, including Tampa/St. Petersburg.

Going forward, the company is aligned with the other four bottlers announced in 2013. It is anticpated that they would enter into definitive agreements shortly and those transactions would begin completion later this year.