SWRAY Swire Pacific Ltd (PK)

By Chester Yung

HONG KONG--Diversified Conglomerate Swire Pacific Ltd. (0019.HK) said Thursday its beverages unit has signed a letter of intent with the U.S. beverage giant Coca-Cola Co. (KO) to expand its franchise in Arizona, a move to expand the scale of its business in the U.S.

The Hong Kong-listed company said its beverage division Swire Coca-Cola USA will serve the entire state of Arizona.

"The grant of additional exclusive territory rights in Arizona will not only further expand the scale of our business in the U.S. but will deepen our 37-year working relationship with The Coca-Cola Company," Swire Coca-Cola USA President and Chief Executive Jack Pelo said in the statement.

Write to Chester Yung at chester.yung@wsj.com

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