Coca-Cola said Friday it had signed letters of intent to franchise bottling operations to potential bottlers in Florida and Chicago.
Brothers J. Christopher and M. Jude Reyes of Reyes Holdings will take over territories in the greater Chicago while Troy Taylor will be responsible for operations in Central Florida, including Tampa and St. Petersburg, Coca-Cola said.
The Atlanta beverage giant has said it wants to shed some bottling responsibilities by entering franchising agreements across the nation with operators.
“Our 21st Century Beverage Partnership Model underscores the strength of our franchise system,” Muhtar Kent, Coca-Cola’s chairman and chief executive officer, said in a statement. “With the addition of these two partners we continue to transform our U.S. business and move closer to achieving our 2020 Vision.”
Reyes Holdings is a food and beer distributor that delivers more than 800 million cases annually around the globe. Troy Taylor, who will become chairman and chief executive officer of the bottling company serving Central Florida, has more than 20 years of business leadership experience, including leading strategic initiatives and transactions for franchise-related businesses, Coca-Cola said.
John Sicher, editor and publisher of industry publication Beverage Digest, said Friday that Coca-Cola Refreshments — Coca-Cola’s bottling arm in North America — handled about 79 percent of Coca-Cola’s U.S. distribution volume at the end of last year. The two largest independent bottlers in North America, Coke Consolidated and Coke United, handled 8 percent and 3 percent respectively. Each is also involved in pending franchising deals, Sicher said.
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