Coca-Cola invests in BodyArmor
Coca-Cola is buying a minority ownership stake in sports drink maker BodyArmor, for an undisclosed amount, marking the latest move by the world's biggest beverage maker to diversify its offerings.
The Atlanta company said Tuesday the deal will allow it to increase its stake in BodyArmor. BodyArmor will get access to Coca-Cola's bottling system, which the companies say could increase distribution. Coca-Cola also makes the sports drink Powerade, while rival PepsiCo Inc. makes the more popular Gatorade.
Coca-Cola has been investing in newer drinks to become what CEO James Quincey calls a "total beverage" company as Americans move away from traditional sodas. Its investments in recent years have included milk that is strained to have more protein and a push behind sparkling water.
Food City to close Brainerd grocery
Food City officials announced Tuesday the grocer plans to close its 4011 Brainerd Road store in September.
The store's lease expires later this year and company officials were unable to secure a suitable replacement location. Store associates are being offered positions at surrounding Food City locations, according to the Abingdon, Va.-based company.
"As one can imagine, this was a very difficult decision for our company to say the least — one that was reached only after great consideration," said Steven C. Smith, Food City president and chief executive officer. "For some time, we looked for a replacement store in the vicinity, but were not able to find a suitable replacement."
The company plans to continue to evaluate possible new store locations moving forward.
"As we continue to update and open new stores in the greater Chattanooga market, we will continue to look for locations to serve the community, including the Brainerd area," said Smith.
Company officials stated that the store's last day of operation will be Tuesday, Sept. 4, with an anticipated 6 p.m. closing. Until that time, the store will remain open from 8 a.m. until 9 p.m. daily.
The store was built in 1981, according to Hamilton County property records.
Ex-Pilot president sentencing delayed
The former president of the nation's largest fuel retailer has been given a delay in sentencing for his conviction in a scheme to defraud trucking companies.
The Knoxville News Sentinel reports an August sentencing hearing for former Pilot Flying J President Mark Hazelwood was rescheduled for Sept. 26, allowing lawyers to examine audit reports used to determine fraud by each defendant in the scheme. The amount stolen by a person factors into penalty ranges.
Hazelwood had fired his defense team and requested the delay. A judge wrote the court wouldn't have permitted the change if it knew his present counsel wouldn't be prepared for August sentencing.
Pilot Flying J is controlled by the family of Cleveland Browns owner Jimmy Haslam and Tennessee Gov. Bill Haslam. The Haslams haven't been charged with wrongdoing.