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Coca-Cola Concludes Refranchising Of Bottling Operations In North America

TORONTO -- Coca-Cola Canada Bottling Ltd. (CCCBL) has acquired Coca-Cola Refreshments Canada (CCRC) from Coca-Cola Co. Financial terms were not disclosed. The closing of CCCBL marks the final transaction to complete Coca-Cola Co.'s implementation of its 21st Century Beverage Partnership Model in the North America market. The bottling system in North America is now comprised of economically aligned partners that can serve major customers while maintaining strong, local ties throug...

September 30, 2018

TORONTO  -- Coca-Cola Canada Bottling Ltd. (CCCBL) has acquired Coca-Cola Refreshments Canada (CCRC) from Coca-Cola Co.  Financial terms were not disclosed.
 
The closing of CCCBL marks the final transaction to complete Coca-Cola Co.'s implementation of its 21st Century Beverage Partnership Model in the North America market.  The bottling system in North America is now comprised of economically aligned partners that can serve major customers while maintaining strong, local ties throughout diverse communities across Canada and the United States.
 
The CCCBL deal comes six months after Coca-Cola Co. announced a letter of intent with the Tanenbaum and Bridgeman families, concluding a broader plan to refranchise all company-owned bottling operations in North America to independent franchise owners.
 
CCCBL welcomed 5,800 associates on Sept. 29 as it assumed all Coca-Cola bottling and distribution operations across Canada. This includes a national network of more than 50 sales and distribution centers and five production facilities that were formerly part of Coca-Cola Refreshments Canada.
 
CCCBL is a Canadian-based joint venture between prominent businessman and philanthropist Larry Tanenbaum and Junior Bridgeman, a former NBA player, renowned entrepreneur and owner of Kansas City-based Heartland Coca-Cola Bottling Co.
 
Taking the helm at CCCBL as it embarks on the new venture are Todd Parsons, president and chief executive, and Stephen du Toit, executive vice-president and chief operating officer. CCCBL will also be led by a board of directors that includes Ken Tanenbaum, executive chairman, and Rick A. Frazier, executive vice-chairman.
 
Together, Parsons and du Toit bring decades of experience from the consumer packaged goods industry to CCCBL. Most recently, Parsons was executive vice-president of investment operations at Kilmer Group, and previously served as chief operators officer and CFO at specialty frozen baked goods company Give & Go Prepared Foods.
 
du Toit has been with Coca-Cola Co. since 1999 and has held many positions around the world in supply chain management.  He relocated to Canada in 2011 and has held various positions with the Canadian bottling organization including vice-president of manufacturing and general manager of the Minute Maid juice business.