US: Coca-Cola agrees Sun Capital restaurant deal
Coca-Cola has agreed a deal to have its drinks promoted in restaurants owned by investment group Sun Capital Partners, covering 28 US states.
The deal, sealed by Coca-Cola Foodservices and Hospitality, means Coca-Cola drinks will be the preferred products in around 1,750 affiliated Sun Capital restaurants, the firms announced this week.
Financial terms of the deal were not disclosed.
The agreement is a lift for Coca-Cola's North American beverages division, which suffered a decline in the third quarter of 2008. Revenue for the region fell 2% in the quarter, Coca-Cola announced this week.
Chris Lowe, president of Coca-Cola Foodservice, said the Sun Capital deal "brings growth opportunities on a number of fronts including convenience retail, specialty retail, and foodservice".
Sun Capital-owned restaurants include Boston Market Corporation, Bruegger's Enterprises (Bruegger's Bagels) and Fazoli's Restaurants, among others.
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