ATLANTA -- After more than a decade, the Coca-Cola Co. is nearing completion of its refranchising of company-owned bottling and distribution territories in the United States. Its latest move comes in the form of a letter of intent signed May 24 involving a significant area of the Northeast, including metropolitan New York, Philadelphia and most of New Jersey.
Coca-Cola Refreshments executives Paul Mulligan and Fran McGorry are joining together to form a new bottling company called Liberty Coca-Cola Beverages LLC. They have signed a letter of intent for territories in the New York, Philadelphia and New Jersey markets, as well as part of Delaware and four production facilities. This area is known as the Tri-State Metro Operating Unit of Coca-Cola Refreshments, which is a unit of the Coca-Cola Co., Atlanta.
Mulligan and McGorry are experienced veterans of the Coca-Cola system. Mulligan has served as president of Coca-Cola Refreshments since 2014. His previous experience in the system includes leadership roles in operations around the world. He will be co-owner of the new Liberty Coca-Cola Beverages.
McGorry is current president of the Tri-State Metro Operating Unit. He will be co-owner of Liberty Coca-Cola Beverages and will continue to be the top executive in charge of the territory. Prior to his current role, McGorry’s career included serving as president of the Philadelphia Coca-Cola Bottling Co.
The next step is a definitive agreement, followed by a closing.
The Coca-Cola Co. remains on track to complete refranchising of its U.S. territories by the end of 2017. There are agreements or letters of intent for 100% of the U.S. territories of Coca-Cola Refreshments, the company said.
“This is a critical milestone in a journey that dates back more than a decade,” said J. Alexander “Sandy” Douglas Jr., president, Coca-Cola North America. “This important bottling territory will be in great hands under the leadership of Paul and Fran. They are experienced, locally respected operators who see many growth opportunities in the Tri-State market.”
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