Coca-Cola Bottling Co. Consolidated completed the acquisition of certain assets used in distribution, promotion, marketing and sale from Coca-Cola Refreshments USA, Inc.
January 26, 2017
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Coca-Cola Bottling Co. Consolidated (NasdaqGS:COKE) entered into a non-binding Letter Of Intent to acquire certain assets used in distribution, promotion, marketing and sale from Coca-Cola Refreshments USA, Inc. for approximately $150 million on May 12, 2015. Coca-Cola Bottling Co. Consolidated entered into the Distribution Asset Purchase Agreement to acquire certain assets used in distribution, promotion, marketing and sale from Coca-Cola Refreshments USA on September 1, 2016. Under the terms, base purchase price amount of $112.7 million will be paid in cash and Coca-Cola Bottling Co. Consolidated will also assume certain liabilities and obligations relating to the distribution business. Agreement may be terminated by the mutual written consent of the sellers and the buyer or if the transaction is not closed on or prior to December 31, 2017. Closing of the transaction is subject to regulatory approval, approval by Board of Directors of Coca-Cola Bottling Co. Consolidated and Coca-Cola Refreshments USA, termination of any waiting period applicable to the consummation of the transactions under the Hart-Scott-Rodino Act, signing of definitive agreement, the receipt and delivery by CCR of certain third party consents, consummation of due diligence, acquisition of the regional manufacturing facility located in Cincinnati, Ohio and Indianapolis, Indiana by Coca-Cola Bottling Co. Consolidated, execution of Comprehensive Beverage Agreements, execution of Regional Manufacturing Agreements and execution of Transition Services Agreement. Transaction is expected to close in October 2017.
William G. Roche and Anne M. Cox- Johnson of King & Spalding LLP acted as the legal advisor to Coca-Cola Refreshments USA and John V. McIntosh and E. Beauregarde Fisher III of Moore & Van Allen PLLC acted as the legal advisor to Coca- Cola Bottling Co. Consolidated.
Coca-Cola Bottling Co. Consolidated (NasdaqGS:COKE) completed the acquisition of certain assets used in distribution, promotion, marketing and sale from Coca-Cola Refreshments USA, Inc. on January 27, 2017.
Coca-Cola Consolidated, Inc. distributes, markets and manufactures nonalcoholic beverages, primarily products of The Coca-Cola Company. The Company also distributes products for several other beverage companies, including Keurig Dr Pepper Inc. and Monster Energy Company. The Company offers a range of nonalcoholic beverage products and flavors, including both sparkling and still beverages. Sparkling beverages are carbonated beverages, and the Company's principal sparkling beverage is Coca-Cola. Its beverages include energy products and noncarbonated beverages such as bottled water, ready to drink tea, ready to drink coffee, enhanced water, juices and sports drinks. The Company's products are sold and distributed in the United States through various channels, which include selling directly to customers, including grocery stores, mass merchandise stores, club stores, convenience stores and drug stores, selling to on-premise locations, where products are typically consumed immediately.
Coca-Cola Bottling Co. Consolidated completed the acquisition of certain assets used in distribution, promotion, marketing and sale from Coca-Cola Refreshments USA, Inc.
COCA-COLA CONSOLIDATED, INC. 
