Coca-Cola to fully refranchise North America bottling operations by 2017
(Reuters) - Coca-Cola Co said it would refranchise all its North America bottling operations, including its 39 cold-fill production factories, three years earlier than expected, as the soda maker looks to cut costs.
The company said in April it would refranchise only two-thirds of its bottling operations in North America by 2017, with all bottling operations in the region refranchised by 2020.
Coca-Cola will continue to own its hot-fill factories, which produce beverages including Powerade energy drinks and Minute Maid juices.
The company also said it entered into a non-binding letter of intent to refranchise its bottling operations in China to China Foods Ltd, part of COFCO Ltd, and Swire Beverage Holdings Ltd.
(Reporting by Sruthi Ramakrishnan in Bengaluru; Editing by Sriraj Kalluvila)
