Coca-Cola Bottling Works of Tullahoma, Inc., a family-owned company for 133 years, is set to be acquired by an Illinois-based company, according to a press release issued by foodservice wholesaler and distributor Reyes Holdings, LLC.
Reyes Holdings, headquartered outside Chicago in Rosemont, Illinois, on Tuesday announced that it would be expanding operations South via an agreement to acquire the Tullahoma-headquartered bottling company, led by fourth-generation president and CEO Jordan Ennis.
“Coca-Cola Bottling Works of Tullahoma has proudly refreshed our communities since 1906,” said Ennis in the release. “As a family-owned business for four generations, we are looking forward to the possibilities for our operations and territory as part of another family-owned company, Great Lakes Coca-Cola Bottling.”
Great Lakes Coca-Cola Bottling is wholly owned by Reyes Holdings, also a family-owned company. Founded in 1976 by brothers Jude and Chris Reyes, Reyes Holdings is now one of the largest privately owned companies in America.
The acquisition is expected to close by the end of September.
Coca-Cola Bottling Works of Tullahoma began producing and selling Coca-Cola products in 1906. During the past 113 years, the company expanded its operations to cover 30 counties in Tennessee and Kentucky.
The company - which in Tullahoma still produces the syrups that team with carbonated water to become popular soft drinks like Coke, Diet Coke and Dr Pepper - employs more than 200 associates, many of whom are long-tenured employees.
“We look forward to continuing Coca-Cola Bottling Works of Tullahoma’s proud 113-year history of supporting their employees, customers, consumers and community, as well as being an important part of the Coca-Cola system in the United States,” said Jeff Laschen, CEO of Great Lakes Coca-Cola Bottling.
Jude Reyes, founder and co-chairman of Reyes Holdings, said the new owners will “remain committed to investing in our Coca-Cola business and look forward to building upon the success that Coca-Cola Bottling Works of Tullahoma has seen over the years.”
The acquisition will expand the existing territory of Great Lakes Coca-Cola Bottling, which currently operates in Illinois, Iowa, Michigan, Minnesota, Northern Indiana and Wisconsin.
Reyes Holdings also owns Reyes Coca-Cola Bottling, which has extensive operations in California and Nevada.
“We truly enjoy being a part of the Coca-Cola system and are excited by this opportunity to grow our Coca-Cola business into Tennessee and Kentucky,” said Chris Reyes, founder and co-chairman of Reyes Holdings.
In addition to Great Lakes and Reyes Coca-Cola Bottling operations, Reyes Holdings, LLC, is the holding company for Reyes Beer Division, Martin Brower and Reinhart Foodservice.