Cola Co. said Thursday it plans to sell nine U.S. production plants worth about $380 million to three large bottling partners as the beverage giant accelerates a refranchising drive and lightens its balance sheet.<br />Atlanta-based Coke began divesting U.S. distribution assets including delivery trucks and warehouses in 2013 in a bid to cut costs and boost profit amid weak soda sales.<br />Thursday's announcement is the first time Coke confirmed it also intends to shed U.S. manufacturing assets, signaling that it will exit at least some of its low-margin, capital-intensive businesses to refocus on selling beverage concentrate and marketing.<br />Coke Chief Executive Muhtar Kent said in a news release on Thursday that the company will tap the strengths of the bottling partners "to operate as one highly aligned and highly competitive national product supply system."
