US: Bravo! and CCE end distribution deal
Flavoured milk specialist Bravo! Brands has announced that it has come to a mutual agreement with Coca-Cola Enterprises (CCE) to terminate its Master Distribution Agreement with the bottler, saying that returns from the link-up had been "far below expectations" for both companies.
Bravo! said terminating the agreement, which dates back to August 2005 and was scheduled to last for ten years, would allow it to finalise negotiations with a new national distributor.
"The termination of our agreement with CCE was a joint decision between the two companies that reflects economic returns far below the expectations of both CCE and Bravo!," said Bravo! president Ben Patipa "This termination of the MDA is a key step in our overall plan to restructure the business into an economically viable model through distribution with another national distributor."
Bravo! has also announced that, as part of the termination agreement, the warrants to purchase 30m shares of Bravo!'s common stock which were issued as part the original deal with CCE have been cancelled, and that no termination or cancellation fees will be paid by either party.
Coke's choice of Muhtar Kent as its next CEO ensures a smooth transition from Neville Isdell, and has gone down well with the company's bottling partners. But while the promotion of a chief operating ...
Coca-Cola Enterprises has raised its forecasts for this year, and believes 2008 should bring a high single-digit increase in revenue....
Soft drinks bottler Coca-Cola Enterprises (CCE) has announced the election of Suzanne B. Labarge as a board director....
Coca-Cola Enterprises has unveiled plans to push its Minute Maid brand in the UK....
Coca-Cola Enterprises is mulling the closure of its distribution centre in Frederick County, Maryland by the end of March next year, according to local reports....
Investment bank Citigroup has raised its rating of Coca-Cola Enterprises to "buy" from "hold"....
Bravo! Brands Inc. has had a class action lawsuit filed against it on for allegedly concealing information from investors before filing for bankruptcy....
- Comment - Heineken's 'No' Cuts SABMiller Options
- Irish whiskey eyes a slice of Scotch's global pie
- SABMiller spurned by Heineken: The start of the en
- Guinness: A Great Day for St James's Gate
- William Grant and Drambuie: It Had to be You
- Patron Spirits' Patron Citrónge Lime
- Wm Grant CMO to head Orangina Scweppes Int'l
- Heineken rejects SABMiller purchase proposal
- Scottish leader speaks out over Scotch whisky
- SABMiller, Heineken silent on takeover offer talk