The Coca-Cola Company has divested its Coca-Cola Refreshments Canada (CCRC) bottling division to Coca-Cola Canada Bottling Limited (CCCBL), as part of its refranchising strategy.
CCCBL will assume control of all Coca-Cola bottling and distribution operations across Canada, including 50 sales and distribution centres and five production facilities that were formerly part of CCRC.
The divestment comes six months after Coca-Cola signed a non-binding agreement with Larry Tanenbaum, a Canadian businessman and philanthropist and Junior Bridgeman, CEO of Kansas City-based Heartland Coca-Cola Bottling Company, to divest the Canadian division.
Coca-Cola’s refranchising strategy aims to ensure that the company’s North American bottling system is comprised of partners that can serve major customers while also maintaining strong, local ties throughout Canada and the US.
Shane Grant, business unit president of The Coca-Cola Company in Canada said: “We’re extremely excited to work with our new partners at CCCBL to harness the full power of our incredible system.
“With their passion for our brands and commitment to world-class portfolio execution, we’re confident we have the right partners for our business to continue to grow and succeed in the Canadian market.”
Todd Parsons, president and CEO, Coca-Cola Canada Bottling Limited added: “With a history that spans more than 120 years, Coca-Cola has deep roots in Canada –and we do not take that for granted.
“We’re humbled and privileged to be custodians of that legacy as we return Coca-Cola bottling in Canada to its local roots.
“We’re energised by the opportunity to innovate and grow with our customers, and to continue strengthening our relationships with the communities we serve.”
© FoodBev Media Ltd 2022
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