Coca-Cola has agreed to sell two additional bottling territories in North Carolina and the Pacific Northwest – both previously controlled by its subsidiary, Coca-Cola Refreshments – as part of the company’s continued progress in reshaping its North American bottling system.
The soft drinks giant has signed letters of intent with Durham Coca-Cola Bottling Company for the territory in North Carolina, and with Coca-Cola Bottling Company of Yakima, Washington for the portion of the Pacific Northwest.
The company has also said that previously announced agreements with Viking Coca-Cola Bottling Company, based in Minnesota, and Great Lakes Coca-Cola Distribution – both for additional bottling territory in the Midwest – have made further progress, and the two companies have signed definitive agreements for the acquisitions.
In addition, Coca-Cola expects its National Product Supply Group, which was formed to administer key activities for member bottlers, including production of cold-fill beverages, to expand.
The developments come after FoodBev revealed that Coca-Cola would accelerate its efforts to refranchise all remaining company-owned territories in North America, three years earlier than initially planned.
“We have made significant progress on our North American refranchising initiatives,” Coca-Cola chairman and CEO Muhtar Kent said at the time. “We continue to negotiate additional agreements and we are in constant discussion with potential partners who are excited about investing in the future of the Coca-Cola system in our flagship market as well as in other markets around the world.”
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