Swire Coca-Cola USA, which produces and distributes Coke products and other beverages throughout 13 states, is changing hands. Hong Kong-based conglomerate Swire Pacific Ltd plans to sell the U.S. unit for $3.9 billion to its controlling shareholder, John Swire & Sons Ltd. The company expects to see a profit of about 2.91 billion USD.
According to Reuters, “In an agreement with an initial 13-year term, Swire Pacific unit Swire Coca-Cola Ltd will provide management and administrative support to the sold U.S. firm and receive an annual fee of at least HK$117 million [about $14 million].”
The sale will allow Swire Pacific to focus more on businesses in the Greater China and Southeastern Asia regions and fund long-term investments in core divisions and new growth areas.
Swire Coca-Cola USA is based in Draper, Utah, and employs more than 7,200 associates. In March, Swire Coca-Cola USA and Maverik announced a partnership centered around Maverik’s “Happy Camper” sweepstakes, in which the retailer gives away a camper van. Swire Coca-Cola USA created a custom can to promote the sweepstakes. “As the local bottler throughout much of the western United States, we’re proud to offer a can that fuels the adventurous spirit of those who enjoy the beautiful great outdoors,” said Katie Lattanzi, vice president – convenience retail at Swire Coca-Cola.
From soda to coffee and franks to fries, check out the NACS I Impact 21 Certified Convenience Basic and Advanced Category Management Curriculum. These online training programs teach and certify category management professionals who are new to the channel or are seasoned professionals looking to learn the latest in thought leadership, practices of category management and shopper marketing. More information at https://www.convenience.org/Solutions/Training-Development