The company has also entered into a non-binding letter of intent to refranchise company-owned bottling operations in China to existing partners China Foods Limited, part of COFCO Limited, and Swire Beverage Holdings Limited, building on other recent global refranchising initiatives in Europe and Africa.
“We have made significant progress on our North American refranchising initiatives,” said Chairman and CEO Muhtar Kent. “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
Added Kent: “The acceleration of our global refranchising marks a step change in our efforts to refocus The
The franchise system is a cornerstone of the company’s 21st Century Beverage Partnership Model in North America, a broad initiative aimed at building on system capabilities to sustain success. The first letters of intent in the refranchising process were announced in 2013.
“This has been an important, strategic process that positions the
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