Builds on previously announced Letters of Intent with U.S. Bottling partners, which are expected to reach Definitive Agreement shortly
Implementation of 21st Century Beverage Partnership Model in U.S. Continues
ATLANTA – Feb. 21, 2014 – The
The two new transactions announced today are subject to the parties reaching Definitive Agreements during 2014. The parties are committed to working together to implement a smooth transition with minimal disruption for customers, consumers and System associates. Financial terms were not disclosed.
“Our 21st Century Beverage Partnership Model underscores the strength of our franchise System,” said Muhtar Kent, Chairman and Chief Executive Officer, The
Reyes Holdings is one of the largest global providers of food and beverage distribution services. Its operations span North, Central and South America, as well as Europe, the Middle East and Asia Pacific. Annually, the company delivers more than 800 million cases of high-quality, well-known beer and food products from 120 strategically located warehouses.
“The Reyes family has been tremendously successful in helping drive strong brands in mature markets, and they will be invaluable to our System,” said Sandy Douglas, Group President,
Troy Taylor will be the Chairman and Chief Executive Officer of the new bottling company that will serve Central Florida, including Tampa/St. Petersburg. With more than 20 years of business leadership experience, Taylor has significant knowledge in leading strategic initiatives and transactions for franchise-related businesses, including multiple
“Troy Taylor has been a trusted advisor to The
“I have long believed that
“As we have said, the
“Coca-Cola has always been a leader in giving back to the communities where it does business,” said M. Jude Reyes, Founder and Co-Chairman of Reyes Holdings. “As a new member of the
In April 2013, The
The Company is very encouraged by the transition of High Country, which closed at the end of 2013. Looking ahead, the Company is aligned with the other four bottlers announced in 2013. It is expected that they will reach Definitive Agreements shortly and those transactions will begin closing later this year.
In all of the newly granted territories, the new bottlers and The
- A grant of exclusive territory rights and the sale by
Coca-ColaRefreshments (CCR) of distribution assets and cold drink equipment
- A finished goods model under which production assets will remain with CCR, which would facilitate future implementation of a national product supply system
- An improved, more integrated information technology platform
- A new beverage agreement that supports the evolving operating model
About Reyes Holdings, L.L.C.
Reyes Holdings, aligned with leading beer brewers and foodservice providers, delivers some of the best-known brands and widest variety of food and beverage items to retailers around the world. Annually, the company delivers more than 800 million cases of high-quality beer and food products from 120 warehouses in North, Central and South America, as well as Europe, the Middle East and Asia Pacific. Reyes Holdings operations include The Martin-Brower Company, L.L.C., a global quick-service restaurant distribution business and the largest supplier worldwide of distribution services to the McDonald’s restaurant system; Reinhart Foodservice, L.L.C., one of the largest broadline foodservice distributors in the United States, and Reyes Beverage Group, the largest beer distributor in the United States representing the great majority of import, craft and domestic beer brands. Reyes Holdings is the 11th largest privately held company in the United States with more than 16,000 employees and annual sales in excess of $22 billion. For more information about Reyes Holdings, visit the company website at www.reyesholdings.com.
About Troy Taylor
Troy Taylor will be the Chairman and Chief Executive Officer of the new bottling company which will have territory rights in Central Florida including Tampa/St. Petersburg. Troy has been involved in the
More on Journey
Coca-ColaCompany to Present at Consumer Analyst Group of Europe Conference
- As Inclusive as Our Brands: Coke Again Earns Perfect Rating in HRC's Corporate Equality Index
Coca-ColaCompany 2014 Annual Meeting of Shareowners Preliminary Vote Results
- Statement on Speculation Regarding Coca-Cola’s Interest in CBD Beverages
Coca-ColaChairman and CEO Muhtar Kent on Travel Ban