CHARLOTTE, N.C. — Coca-Cola Bottling Co. Consolidated, the nation’s largest independent Coca-Cola bottler, has signed a non-binding letter of intent with The Coca-Cola Co. to expand the company’s distribution territory in parts of Ohio and West Virginia and to purchase and operate a manufacturing facility in Twinsburg, Ohio. Under terms of the transaction, Coca-Cola Bottling would receive exclusive distribution rights in territories located within northern Ohio and northern West Virginia, including the following major markets: Akron, Elyria, Toledo, Willoughby, and Youngstown County in Ohio. Coca-Cola Refreshments USA, Inc., a wholly owned subsidiary of Atlanta-based Coca-Cola, currently serves these territories and owns and operates the Twinsburg manufacturing facility.
|Frank Harrison, chairman and c.e.o. of Coca-Cola Bottling|
“We are excited about this opportunity to expand our company into additional markets,” said Frank Harrison, chairman and chief executive officer, Coca-Cola Bottling. “We are continuing to integrate recently acquired distribution territories and look forward to serving new customers, consumers, communities and employees in Ohio and West Virginia.”
Coca-Cola Bottling said it recently expanded its distribution territory in parts of Tennessee, Kentucky, Indiana, Virginia, Delaware and Maryland, and is working to close a series of transactions for additional distribution territory covered by a previously announced definitive agreement with The Coca-Cola Co. in September 2015.
Additionally, Coca-Cola Bottling said it is continuing to work toward a definitive agreement with The Coca-Cola Co. for the remainder of the proposed territory expansion described in a previously announced letter of intent from May 2015, including distribution territories in parts of Ohio, Indiana, Illinois and Kentucky.Coca-Cola Bottling recently completed the acquisition of a manufacturing facility in Sandston, Va., and is working to close a series of transactions for two additional manufacturing facilities in Silver Spring and Baltimore, Md., covered by a previously announced definitive agreement with The Coca-Cola Co. from October 2015. The company also is continuing to work toward a definitive agreement with The Coca-Cola Co. for the remainder of the manufacturing facility acquisitions described in a previously announced letter of intent from September 2015, including manufacturing facilities located in Indianapolis and Portland, Ind., and Cincinnati.