REYES HOLDINGS ENTERS INTO LETTER OF INTENT TO ACQUIRE MIDWEST COCA-COLA PRODUCTION FACILITIES
Great Lakes Coca-Cola Distribution, L.L.C. enters into letter of intent for facilities in
Michigan, Wisconsin, Minnesota and Illinois
ROSEMONT - April 20, 2016 – Reyes Holdings, L.L.C. announced today that its Chicago-area Coca-Cola distributor, Great Lakes Coca-Cola Distribution, L.L.C., has entered into a letter of intent with The Coca-Cola Company to acquire six production facilities in Alsip and Niles, Ill.; Detroit and Grand Rapids, Mich.; Eagan, Minn.; and Milwaukee, Wisc.
This move marks Great Lakes’ entry into production in the Midwest and further strengthens its partnership with Coca-Cola. The letter of intent is part of Coca-Cola North America’s ongoing and accelerated implementation of Coca-Cola’s 21st Century Beverage Partnership Model, a broad initiative aimed at building on system capabilities to sustain success, of which Great Lakes is a proud participant.
“The agreement allows Reyes Holdings and our family of businesses not only to grow our partnership with Coca-Cola, but also to become a producing bottler for the first time,” said Chris Reyes, founder and co-Chairman of Reyes Holdings.
“This marks another key milestone in our partnership with Great Lakes, expanding our joint efforts through the sale of these Midwest bottling operations,” said Sandy Douglas, President, Coca-Cola North America. “We look forward to future collaboration that meets the needs of customers in the Midwest.”
Great Lakes previously announced the expansion of its distribution territory across the Midwest in October of 2015. With the closing of those transactions in 2016 and 2017, Great Lakes will have exclusive rights for the sales and distribution of Coca-Cola beverages in additional territory including the state of Michigan, the majority of Wisconsin including Milwaukee, southern Minnesota including Minneapolis – St. Paul, and portions of northeast Iowa and northern Illinois adjacent to its Chicago territory.
“Great Lakes and Coca-Cola are collectively dedicated to the service of our customers and employees in the communities we serve, and this announcement positions both organizations for continued success in the Midwest,” said Jude Reyes, founder and co-Chairman of Reyes Holdings.
The letter of intent is subject to the parties reaching a definitive agreement, and it is anticipated that the production facilities shall transfer to Great Lakes in several closings in 2016 and 2017 consistent with Coca-Cola’s 21st Century Beverage Partnership Model. Great Lakes is committed to working collaboratively with The Coca-Cola Company to implement a smooth transition with minimal disruption for customers, consumers and system associates.
- Posted in: Press Releases
- April 20, 2016