Coca-Cola Canada Bottling Limited (CCCBL) has finalised a deal to acquire Coca-Cola Refreshments Canada (CCRC) from The Coca-Cola Company. This deals forms the final part of a plan from the beverage giant to refranchise all company-owned bottling operations in North America to independent franchise owners.
CCCBL now has control of all Coca-Cola bottling and distribution operations across Canada, including a national network of more than 50 sales and distribution centres and five production facilities that were formerly part of CCRC.
CCCBL is a joint venture between businessman Larry Tanenbaum and former basketball player and owner of Kansas City-based Heartland Coca-Cola Bottling Company Junior Bridgeman.
Todd Parsons will now become chief executive, with Stephen du Toit filling the role of chief operating officer. The former said: “With a history that spans more than 120 years, Coca-Cola has deep roots in Canada –and we do not take that for granted. We’re humbled and privileged to be custodians of that legacy as we return Coca-Cola bottling in Canada to its local roots. We’re energised by the opportunity to innovate and grow with our customers, and to continue strengthening our relationships with the communities we serve.”
Shane Grant, business unit president of The Coca-Cola Company in Canada, added: “We’re extremely excited to work with our new partners at CCCBL to harness the full power of our incredible system. With their passion for our brands and commitment to world-class portfolio execution, we’re confident we have the right partners for our business to continue to grow and succeed in the Canadian market.”