“Troy Taylor has been a trusted advisor to The Coca-Cola Company on critical strategic initiatives for more than a decade,” said Douglas. “He is well-known and respected by our System, and we are pleased to welcome him as a new bottling partner.”“I have long believed that Coca-Cola serves up moments of happiness and I am excited to join the Coca-Cola family. This new arrangement expands on an already successful, long-standing relationship I have with the Company,” said Taylor. “Together we are committed to delivering excellent service to customers and refreshing experiences to consumers in the Sunshine State.” “As we have said, the Coca-Cola System should be a reflection of the communities where we operate and the consumers and customers that we serve,” said Douglas. “Partnering with these two top-notch ownership groups is further evidence of this commitment,” said Douglas. “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 Coca-Cola family, we share those values and are dedicated to being the best distributor we can be while contributing back to the communities in which we operate.” In April 2013, The Coca-Cola Company announced that it had signed Letters of Intent with five U.S. bottlers which committed to creating a stronger U.S. business model through the granting of new, expanded territories. The five bottlers are Coca-Cola Bottling Co. Consolidated, Coca-Cola Bottling Company United Inc., Swire Coca-Cola USA, Coca-Cola Bottling Company High Country and Corinth Coca-Cola Bottling Works, Inc. 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 Coca-Cola Company will work collaboratively to implement key elements of their evolving U.S. operating model, including:
- A grant of exclusive territory rights and the sale by Coca-Cola Refreshments (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