Liberty Coca-Cola Beverages, LLC announced today that it has closed its deal to acquire territory from The Coca-Cola Company across the New YorkTri-State Metro area. The definitive agreement, signed October 28, 2017, comes approximately five months after The Coca-Cola Company announced a letter of intent with the bottling partner as part of a broader plan to refranchise its operations in North America.
Liberty Coca-Cola officially opened its doors today, and welcomes more than 4,600 associates to its family. The new bottler’s areas of service includes the cities of Philadelphia and New York, part of Delaware, the state of New Jersey, Long Island, parts of Hudson Valley, NY, and Fairfield County, CT. Liberty Coca-Cola will operate four production facilities and ten distribution centers throughout the region.
Coca-Cola Refreshments executives Paul Mulligan and Fran McGorry are at the helm of the new venture, and bring a combined 55-years of experience from the Coca-Cola system. Over the past 20 years, Paul has led the charge overseas from Europe to Japan to Latin America and most recently with Coca-Cola Refreshments in the U.S.; transitioning bottlers across North America to become part of the Company’s 21st Century Beverage Partnership Model.
Fran McGorry has been President of the Tri-State Metro Operating Unit of Coca-Cola Refreshments for the last two years. Prior to his current role, McGorry’s career included serving as President of the Philadelphia Coca-Cola Bottling Company . He is a native of Philadelphia and has strong, local connections throughout the region.
“This is a team that truly believes in the power of our brands and world-class portfolio execution,” said J. Alexander “Sandy” Douglas Jr., President, Coca-Cola North America. “Winning in one of the nation’s biggest and most complex markets is mission critical, and Paul Mulligan, Fran McGorry and their tri-state team are the perfect people to make it happen for this newly established bottling partner.”
“Becoming a Coca-Cola franchise owner is an honor and a privilege, with a responsibility and challenge we respect,” said Paul Mulligan, Co-Owner Liberty Coca-Cola Beverages LLC . “We are passionate about the opportunity to refresh such a diverse marketplace with the world’s most iconic beverages, and look forward to growing and innovating with our customers and consumers in each one.”
“I have been part of the Coca-Cola family for 30 years, and achieving this dream of localizing the business not only for a brand I love, but in a market that I have grown up in, makes it all the more special,” said Fran McGorry, Co-Owner Liberty Coca-Cola Beverages LLC. “We are excited to return to our local roots and be part of the fabric of the communities that we serve.”
Liberty Coca-Cola is committed to driving growth in the marketplace by investing in its No. 1 asset – people. Resources are in place to develop a culture of ownership, safety and fun; where associates are empowered to make decisions that will impact the future growth of the business.
The closing of Liberty Coca-Cola Beverages is among the final transactions to complete the Coca-Cola Company’s process of refranchising all of its U.S. bottling territories. The bottling system in North America now will be comprised of economically aligned partners that are able to serve major customers while maintaining strong, local ties throughout diverse communities across the country.
Financial terms of the Liberty Coca-Cola Beverages, LLC agreement are not being disclosed.
About Liberty Coca-Cola Beverages LLC
Liberty Coca-Cola Beverages, LLC is a privately-owned bottler that operates four production facilities in Philadelphia, Moorestown, N.J., Maspeth, N.Y., and Elmsford, N.Y. and sales and distribution centers in Marmora, South Brunswick and Carlstadt, NJ; the Bronx, Maspeth, Elmsford, New Windsor, and Smithtown, NY. For more information, visit us at www.LibertyCoke.com, and follow us on Twitter @libertycocacola, Instagram, Facebook and LinkedIn.
About The Coca-Cola Company
The Coca-Cola Company (NYSE:KO) is the world’s largest total beverage company, offering over 500 brands to people in more than 200 countries. Of our 21 billion-dollar brands, 19 are available in lower- and no-sugar options to help people everywhere more easily control added sugar.
In addition to our namesake Coca-Cola drinks, some of our household names around the world include: AdeS soy-based beverages, Ayataka green tea, Dasani waters, Del Valle juices and nectars, Fanta, Georgia coffee, Gold Peak teas and coffees, Honest Tea, Minute Maid juices, Powerade sports drinks, Simply juices, smartwater, Sprite, vitaminwater, and Zico coconut water. At Coca-Cola, we’re serious about making positive contributions to our world. That starts with reducing sugar in our drinks and bringing new and different drinks to people everywhere. It also means continuously working to reduce our environmental impact, creating rewarding careers for our associates, and bringing economic opportunity wherever we operate. In fact, together with our bottling partners, we employ more than 700,000 people around the world. For more information, visit our digital magazine Coca-Cola Journey at www.coca-colacompany.comand follow The Coca-Cola Company on Twitter, Instagram, Facebook and LinkedIn.
Liberty Coca-Cola Beverages, LLC
Copyright Business Wire 2017
Source: Liberty Coca-Cola Beverages, LLC