Reyes signs LoI to acquire distribution rights to Coca-Cola in California and Nevada
Reyes Holdings has signed a new letter of intent (LoI) with global beverage firm The Coca-Cola Company to acquire distribution rights for its products in California and Nevada, as well as three bottling facilities.
The agreement covers some of the major metropolitan markets of Los Angeles, San Francisco, San Diego, and Las Vegas in the US. Reyes initially signed the LoI in February 2014, when it established Great Lakes Coca-Cola Distribution to serve six states in the Midwest, including the cities of Chicago, Detroit, Minneapolis, and Milwaukee.
Reyes Holdings' founder and co-chairman Chris Reyes said: “It’s been exciting being part of the Coca-Cola system in the Midwest and we see tremendous opportunity with this territory expansion into the Western US.”
The new LoI includes the West Operating Unit of Coca-Cola Refreshments.
Coca-Cola's North America president Alexander Sandy Douglas said: “We chose Reyes Holdings as our new partner in California and Nevada because they are a long-term operator that is well positioned to invest in this local business and help us grow our total portfolio of brands.
“We are very pleased that Reyes Holdings will expand its already significant role in the US Coca-Cola system.”