ATLANTIC COCA-COLA BOTTLING COMPANY SIGNS LETTER OF INTENT WITH THE COCA-COLA COMPANY TO EXPAND TERRITORY
The Coca-Cola Company announces Letter of Intent with U.S. Bottling Partner
Implementation of 21st Century Beverage Partnership Model in the United States Continues
Atlantic, Iowa April 22, 2015 – Atlantic Coca-Cola Bottling Company announced today that it has signed a Letter of Intent (LOI) with The Coca-Cola Company for expanded territory rights. The bottler will assume territories in Iowa and southern Minnesota. Expected transition dates are subject to the parties reaching Definitive Agreements. Financial terms were not disclosed.
“We look forward to completing the transition work with The Coca-Cola Company. Leveraging the new operating model will enable us to continue serving the needs of our consumers and customers effectively,” said Kirk Tyler, President, Atlantic Coca-Cola Bottling Company.
“We have made significant progress toward the implementation of our 21st Century Beverage Partnership Model in the U.S., which continues to strengthen our franchise system,” said Sandy Douglas, President, North America. “As we continue to evolve our partnership model for growth Atlantic Coca-Cola Bottling Company brings deep local knowledge and has demonstrated both outstanding commercial capabilities and consistent, sustainable success within their communities. Together we continue to transform our U.S. business and move closer to achieving our 2020 Vision.”
Atlantic Coca-Cola Bottling Company and The Coca-Cola Company will work collaboratively to implement key elements of the 21st Century Beverage Partnership Model including:
- More rational and contiguous operating territories
- A grant of exclusive territory rights and the sale by Coca-Cola Refreshments (CCR) of distribution assets and cold drink equipment
- An improved, more integrated information technology platform
- A new beverage agreement that supports the evolving operating model
About Atlantic Coca-Cola Bottling Company
Atlantic Coca-Cola Bottling Company has celebrated over 100 years of producing and delivering Coca-Cola brands to Central and Southwest Iowa. Owned and operated by the Tyler family, headquartered in Atlantic, Iowa with a distribution center in Waukee, Iowa. Employing over 180 individuals, Atlantic Coca-Cola Bottling takes great pride in the role our Company and employees play in the sponsorship of various projects, organizations and celebrations promoting the quality of life throughout Iowa. For more information about Atlantic Coca-Cola Bottling Company, we encourage you to visit us at www.atlanticbottling.com, follow us on Twitter at twitter.com/atlanticcoke, and find us on Facebook at facebook.com/atlanticbottling.
About The Coca-Cola Company
The Coca-Cola Company (NYSE: KO) is the world’s largest beverage company, refreshing consumers with more than 500 sparkling and still brands. Led by Coca-Cola, one of the world’s most valuable and recognizable brands, our Company’s portfolio features 20 billion-dollar brands including, Diet Coke, Fanta, Sprite, Coca-Cola Zero, vitaminwater, POWERADE, Minute Maid, Simply, Georgia, Dasani, FUZE TEA and Del Valle. Globally, we are the No. 1 provider of sparkling beverages, ready-to-drink coffees, and juices and juice drinks. Through the world’s largest beverage distribution system, consumers in more than 200 countries enjoy our beverages at a rate of 1.9 billion servings a day. With an enduring commitment to building sustainable communities, our Company is focused on initiatives that reduce our environmental footprint, support active, healthy living, create a safe, inclusive work environment for our associates, and enhance the economic development of the communities where we operate. Together with our bottling partners, we rank among the world’s top 10 private employers with more than 700,000 system associates. For more information, visit Coca-Cola Journey at www.coca-colacompany.com, follow us on Twitter at twitter.com/CocaColaCo, visit our blog, Coca-Cola Unbottled, at www.coca-colablog.com or find us on LinkedIn at http://www.linkedin.com/company/the-coca-cola-company.