Reyes Holdings announced that its Chicago-area Coca-Cola distributor, Great Lakes Coca-Cola Distribution, 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.
Coca-Cola reported that revenue and profit declined in its latest quarter as soda volume was flat amid weakness abroad.
Shares, up 13% over the past three months, fell 1.8% premarket to $45.77, although results edged in just above Wall Street's expectations.
The creation of the Coca-Cola European Partners joint venture has moved a step closer, with registration of the entity gaining clearance in the US.
Company rushes to sell off manufacturing, distribution in order to focus on concentrate
Coca-Cola Co. has changed course yet again on a basic part of its business model: how to control manufacturing and distribution without having to own them. And this might be its last chance to get it right.
In India, Coca-Cola has decided to suspend bottling operations at three units located in three different states of the country. One of these units, in the city of Kaladera in the western Indian state of Rajasthan, has been the target of a years-long community-led campaign that blames the company for exacerbating water shortages in the area. Coca-Cola says the plant closure is due to long term economic non-viability.
A majority shareholder in Nigeria’s largest juice and dairy company, Chi Limited, Tropical General Investment (TGI) Group, on January 30, 2016 sold 40 percent of its stake to the Coca-Cola company. This deal signals Coca Cola’s plan to expand across Africa by 2020 and redouble its effort to expand beyond soda as its soda sales is low.
The Coca-Cola Co has deepened its presence in India's dairy market with the pilot launch of flavoured milk Vio.