Coca-Cola said Friday it has signed letters of intent to franchise bottling operations in Florida and Chicago.
Brothers J. Christopher and M. Jude Reyes of Reyes Holdings will take over territories in greater Chicago while Troy Taylor will be responsible for operations in Central Florida, including Tampa and St. Petersburg, Coca-Cola said.
Financial terms were not disclosed.
The Atlanta beverage giant has been shedding bottling responsibilities in an effort to focus on the core responsibilities of maintaining the brand.
John Sicher, editor and publisher of industry publication Beverage Digest, said Friday that Coca-Cola Refreshments — Coca-Cola’s North American bottling arm — handled about 79 percent of the company’s U.S. distribution volume at the end of last year.
The two largest North American independent bottlers, Coke Consolidated and Coke United, handled 8 percent and 3 percent respectively. Each is also involved in pending franchising deals, Sicher said.
Illinois-based Reyes Holdings is a food and beer distributor that delivers more than 800 million cases annually around the globe. Troy Taylor has more than 20 years of business leadership experience, including leading strategic initiatives and transactions for franchise-related businesses, Coca-Cola said.
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