Coca-Cola Refranchising Canadian Bottling Operations
The Coca-Cola Company (KO) is the largest total beverage company in the world. It offers 500 plus brands in over 200 countries, and is committed to reducing sugar in its drinks and providing new and diverse drinks to people everywhere.
Larry Tanenbaum O.C. and Junior Bridgeman have both signed non-binding Letters-of-Intent to obtain Coca-Cola Refreshments Canada, The Coca-Cola Company’s Canadian bottling and distribution company.
The acquirement of the Canadian-based bottling company will be a joint venture between Tanenbaum and Bridgeman. Tanenbaum is a distinguished businessman and philanthropist. Bridgement, who is a former NBA player, is also an esteemed entrepreneur and the current President and CEO of the Kansas-based Heartland Coca-Cola Bottling Company.
Coca-Cola Refreshments Canada currently employs about 5800 associates and operates five facilities, over 50 sales and distribution centers, and does business in all of the country’s 10 provinces and three territories.
The non-binding Letter of Intent begins the final step in completing the refranchising of Coca-Cola’s company-owned bottling operations in North America. The Letter of Intent is subject to both parties reaching a definitive agreement, and the transaction is predicted to close in the latter half of 2018.
To learn more about The Coca-Cola Company (KO) and to continue to track its progress please visit the Vista Partners Coca-Cola Company Coverage Page.