REYES HOLDINGS COMPANY ENTERS INTO LETTER OF INTENT WITH THE COCA-COLA COMPANY TO EXPAND ITS MIDWEST DISTRIBUTION TERRITORY
Great Lakes Coca-Cola Distribution, L.L.C. to assume additional territory in portions of Michigan, Wisconsin, Minnesota, Iowa and Illinois
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 expand its distribution territory into Michigan, Wisconsin, Minnesota, Iowa and additional portions of Illinois.
Earlier this year, Great Lakes became the exclusive distributor throughout the greater Chicago area for Coca-Cola’s sparkling and still brands, including Coca-Cola, Coca- Cola Zero, Diet Coke, Fanta, Sprite, vitaminwater, Powerade and Minute Maid, as well as Coca- Cola licensed brands such as Monster and Peace Tea.
The proposed transaction provides that Great Lakes will assume the exclusive rights for the sale and distribution of Coca-Cola beverages in additional territory including the state of Michigan, the majority of Wisconsin including Milwaukee, southern Minnesota including Minneapolis, and portions of northeast Iowa and northern Illinois adjacent to its Chicago territory. Additionally, Great Lakes will take over operations of 34 distribution centers or depots throughout the expanded distribution area.
“It is an honor for Reyes Holdings to represent The Coca-Cola Company’s world-class brands and to be a meaningful contributor to its 21st century beverage partnership model,” said Chris Reyes, founder and co-Chairman of Reyes Holdings.
“We are confident that we are building a model that is modern, agile and consumer and customer focused. The progress announced today continues our efforts to balance national scale and local capability, and will help us increase our leadership and competitive advantage in the U.S. business,” said Sandy Douglas, President, Coca-Cola North America.
“This is truly a synergistic partnership. Our distribution expertise and deep local knowledge complement The Coca-Cola Company’s industry-leading and innovative portfolio. Together, we will create value for our customers, employees and the local community,” said Jude Reyes, founder and co-Chairman of Reyes Holdings.
The letter of intent is subject to the parties reaching a definitive agreement. 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
- October 21, 2015