Coca-Cola Bottling Company UNITED Announces Close of Transaction With The Coca-Cola Company for the Greater New Orleans and New Iberia Coca-Cola Territories in Louisiana
Birmingham, Alabama, April 1, 2016 – Coca-Cola Bottling Company UNITED, Inc. (“Coca-Cola UNITED”), announced today, the Close of Transaction with The Coca-Cola Company to acquire the Greater New Orleans and New Iberia Coca-Cola territories in Louisiana. This transaction follows Coca-Cola UNITED’s announcement, April 22, 2015, in which it signed Letters of Intent with The Coca-Cola Company for the acquisition of eight Coca-Cola territories in the states of Georgia, Florida, Louisiana, and Mississippi.
“Coca-Cola UNITED’s success is dependent on great brands and great people. We have a locally focused operating model which concentrates on excellent customer service and strong community engagement,” said Claude Nielsen, Chairman and CEO, Coca-Cola Bottling Company UNITED. “I am very optimistic about our future in these great Coca-Cola territories. We have an extraordinarily talented and experienced Coca-Cola team here. We will support them with resources and I am confident they will execute flawlessly.”
Today’s Close of Transaction fulfills the agreement within the April 22, 2015 Letter of Intent between The Coca-Cola Company and Coca-Cola UNITED to acquire Coca-Cola bottler operations contiguous to Coca-Cola UNITED. Six of the eight refranchised territories expand Coca-Cola UNITED’s West Region operations, headquartered in Baton Rouge, Louisiana, to include Alexandria, Louisiana; Monroe, Louisiana; Natchez, Mississippi; Shreveport, Louisiana; and as of today, New Iberia and the Greater New Orleans areas of Louisiana.
“It is with great enthusiasm that we welcome the Greater New Orleans and New Iberia Coca-Cola territories into the West Region of our Coca-Cola UNITED family,” said Paul Favaron, Vice President, West Region, Coca-Cola Bottling Company UNITED, Inc. “Coca-Cola has a long history in South Louisiana and is an important part of the community. As I have become familiar with our new UNITED family members, I am impressed with their capabilities and dedication to their local customers and communities. To support their work and our locally focused business model, we will be adding 92 new local jobs between the Greater New Orleans and New Iberia markets. Collectively, we have 850 Coca-Cola associates serving these areas. We are very optimistic about the future of Coca-Cola UNITED in the West Region.”
Continuing to build more rational, contiguous operating territories, today’s announcement marks continued progress between The Coca-Cola Company and Coca-Cola UNITED toward implementation of the 21st Century Beverage Partnership Model. This progress, coupled with Coca-Cola UNITED’s high standards of excellent customer service, strong local relationships and community engagement, further enables these local Coca-Cola bottlers to continue making a positive impact in markets where they live and work.
Consistent with the previous eighteen successful territory acquisitions since 2014 between The Coca-Cola Company and Coca-Cola UNITED, all parties are committed to a smooth transition with minimal disruption for Coca-Cola associates, consumers and customers. The local Coca-Cola Bottlers in the Greater New Orleans and New Iberia territories, began operations as divisions of Coca-Cola UNITED March 31, 2016. Terms of the transaction were not disclosed.
About Coca-Cola Bottling Company UNITED, Inc.:
Founded in 1902 and headquartered in Birmingham, Alabama, Coca-Cola Bottling Company UNITED, Inc. is the third largest bottler of Coca-Cola products in the United States and the second largest privately held Coca-Cola bottler employing more than 5,700 employees. Coca-Cola UNITED currently refreshes customers, consumers and communities in 35 territories across 7 southeastern states with sparkling and still brands for every occasion. Engaged principally in the production, marketing and distribution of Coca-Cola, Diet Coke, Coke Zero, Sprite, Fanta, Dasani water, POWERADE, vitaminwater and many more under exclusive franchise agreements with The Coca-Cola Company and other soft drink manufacturers.
With an enduring commitment to building sustainable communities, Coca-Cola UNITED 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 live and work. For more information, visit us at www.cocacolaunited.com.
Contact:
Carrie Crane
Coca-Cola Bottling Company UNITED, Inc.
pamelaneal@ccbcu.com
O: 205-849-4683
C: 205-212-4068
If you would like to read all press releases related to this article, click one of the tags below for the list!