In December 2015, Swire Coca-Cola USA conditionally agreed to acquire from Coca-Cola Refreshments USA, Inc. certain production assets in Phoenix, Arizona and Denver, Colorado. This followed agreements entered into in September 2015, under which Swire Coca-Cola USA conditionally agreed to acquire certain distribution assets from Coca-Cola Refreshments USA, Inc. in Arizona and was granted the right to distribute the beverage products of The Coca-Cola Company in Arizona (including the Phoenix and Tucson markets). Completion of the acquisitions is conditional upon, among other things, all necessary approvals being obtained. Completion of the acquisition of the distribution assets is expected to take place in 2016. Completion of the acquisition of the production assets is expected to take place in 2018.