Coca-Cola Beverages Florida has completed a transaction to purchase distribution rights for brands owned and licensed by The Coca-Cola Company (TCCC) in Big Pine Key, Hollywood, South Dade, and West Palm Beach.

Signed with a TCCC affiliate, the transaction also includes purchase of production facilities in Hollywood and Tampa, which produce a number of well-known beverage brands, including Sprite, Fanta, smartwater, and Dasani.

In October last year, the Coca-Cola Company entered into a definitive agreement with Coca-Cola Florida to purchase nine distribution centers and four cold-fill production facilities in North and South Florida.

Coca-Cola Company's chairman and chief executive officer Troy Taylor said: “Today is truly a great day for our associates and the customers, consumers and communities that we serve in the Sunshine State.

“We are excited to welcome our new associates to a dynamic, transformative team that is focused on becoming the best bottler in the Coca-Cola System.

"There’s no place in the world that I’d rather be a bottler than right here in the state of Florida."

“We are all looking forward to greater engagement with our local customers and communities, and delivering consumers beverage offerings that are customised specifically for Florida!”

The transaction closing is reported to be the final in a series of three by Coca-Cola Florida, which were based on the Coca-Cola System’s 21st Century Beverage Partnership Model, where TCCC decided to sell its company-owned distribution territories and bottling operations to independent owner / operators (the Refranchising).

The Refranchising business model was designed to position the Coca-Cola System, TCCC, and its independent bottling partners to quickly respond to changing market dynamics and improve its service to consumers and customers by creating of regional bottlers that are engaged locally.

Taylor added: “There’s no place in the world that I’d rather be a bottler than right here in the state of Florida.

“The people and communities of Florida have been warm and welcoming, and for that we are grateful. I look forward to leading Coca-Cola Florida in serving the customers and communities of the Sunshine State with the same spirit.”