Sacramento Coca-Cola Bottling Company and The Coca-Cola Company Sign Purchase Agreement
SACRAMENTO, Calif.--(BUSINESS WIRE)-- Sacramento Coca-Cola Bottling Company announced today that it has been acquired by The Coca-Cola Company. Sacramento Coca-Cola is the sixth-largest independent Coca-Cola bottler in the United States, with territories in all or part of nine counties in northern California.
The purchase price was not disclosed. However, the sale approximates nine times earnings before interest, taxes, depreciation and amortization (EBITDA).
“We are proud of our 85-year legacy of service to the community and have come to the decision that the time is right to transition the business to The Coca-Cola Company,” said Rob Siebers, President and Chief Executive Officer, Sacramento Coca-Cola Bottling Company. “We believe this is the right action to ensure the continued success of Coca-Cola in Northern California.”
Sacramento Coca-Cola Bottling Company was founded in 1927 when Nathan M. Sellers acquired the rights to sell Coca-Cola in most of Northern California, north of San Francisco. Sacramento Coca-Cola currently distributes Coca-Cola products in all or part of the nine California Counties of Sacramento, Yolo, Solano, Placer, El Dorado, Amador, Stanislaus, Sutter and Tuolumne.
"We appreciate all that The Sellers family has done to build our brands and look forward to carrying on their legacy of service to the people of Northern California,” said Glen Walter, President and Chief Executive Officer, Coca-Cola Refreshments.
About Sacramento Coca-Cola Bottling Company
Sacramento Coca-Cola Bottling Company, Inc. has served Northern California for 85 years. It is the exclusive manufacturer and distributor of Coca-Cola products in all or part of the nine California Counties of Sacramento, Yolo, Solano, Placer, El Dorado, Amador, Stanislaus, Sutter and Tuolumne, and employs 467 people in its three Central Valley facilities.
About The Coca-Cola Company
The Coca-Cola Company (NYSE: KO) is the world's largest beverage company, refreshing consumers with more than 500 sparkling and still brands. Led by Coca-Cola, the world's most valuable brand, our Company's portfolio features 15 billion-dollar brands including Diet Coke, Fanta, Sprite, Coca-Cola Zero, vitaminwater, Powerade, Minute Maid, Simply, Georgia and Del Valle. Globally, we are the No. 1 provider of sparkling beverages, ready-to-drink coffees, and juices and juice drinks. Through the world's largest beverage distribution system, consumers in more than 200 countries enjoy our beverages at a rate of 1.8 billion servings a day. With an enduring commitment to building sustainable communities, our Company is focused on initiatives that reduce our environmental footprint, support active, healthy living, create a safe, inclusive work environment for our associates, and enhance the economic development of the communities where we operate. Together with our bottling partners, we rank among the world's top 10 private employers with more than 700,000 system associates. For more information, visit Coca-Cola Journey at www.coca-colacompany.com, follow us on Twitter at twitter.com/CocaColaCo or check out our blog, Coca-Cola Unbottled, at www.coca-colablog.com.
The Coca-Cola Company
Scott Williamson, 404-676-3288
swilliamson@coca-cola.com
or
Sacramento
Coca-Cola Bottling Company
Bob Brown, 916-928-2306
bbrown@sac-coke.com
Source: The Coca-Cola Company
Released January 2, 2013