Coca-Cola Bottling Co. Consolidated announced it has signed a letter of intent with Coca-Cola Co. to expand distribution into northern Ohio for the exclusive distribution rights in and around Cleveland, which is currently served by another bottler.

The Charlotte-based company is the largest independent Coca-Cola bottler in the U.S. It makes, sells and distributes beverages of Coca-Cola and other partner companies in more than 300 brands across 16 states.

Coca-Cola Consolidated’s shares closed Tuesday at $172.34, up $1.05 from Monday’s closing price.

The transaction is expected to close by the end of the year.

Coca-Cola Consolidated, which began selling Coke in bottles in Greensboro in 1902, is continuing to work toward completion of a transactions with a Coca-Cola subsidiary to expand its distribution territory and manufacturing facilities in Indiana, Illinois, Ohio, Arkansas, Tennessee and Mississippi.

The company’s CEO, J. Frank Harrison III, is the great grandson of is founder.

The filing can be found here.