US: CCE acquires Texas bottler
Coca-Cola Enterprises has acquired a franchised Coca-Cola bottling company in Mexia, Texas.
The company said today (11 March) that the company, named Cen-Tex, which is owned and operated by the Browning family, serves customers in Mexia, Limestone and Freestone counties.
CCE president and CEO John Brock said: "The acquisition of Cen-Tex is consistent with CCE's long-term acquisition strategy of assessing and expanding in markets that create value for our shareowners."
CCE's Waco, Texas sales centre manager Scott Bottoms added: "The Browning family built a vibrant Coca-Cola business and have been dedicated supporters of the local community for years. We look forward to continuing that tradition and to servicing Cen Tex's customers from our distribution facility in Waco."
Financial details of the transaction were not disclosed.
No-one from CCE was immediately available for comment when contacted by just-drinks today.
The marketer, distributor and producer of Coca-Cola Co. products said last month that the net loss of US$1.14bn in 2006 was turned around in 2007, hitting a profit for the year of $711m. Total sales for the year also rose, by 5.5% to $20.94bn, despite a 2% slip in sales volumes in North America. Operating profit also reversed the loss in 2006 at $1.49bn, moving into the black to the tune of $1.47bn.
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