Coca-Cola Bottling Co. Consolidated

Coca-Cola Bottling Co. Consolidated, headquartered in Charlotte, North Carolina, is the largest independent Coca-Cola bottler in the United States.[3]

Coca-Cola Bottling Co. Consolidated
TypePublic
IndustryFood processing
FoundedFebruary 19, 1906 (1906-02-19) (by J.B. Harrison)
North Carolina, U.S.
FounderJ.B. Harrison
Headquarters
U.S.
Area served
U.S.
Key people
J. Frank Harrison, III
(Chairman & CEO)
Products
  • Beverages
Brands
Revenue US$ 4.324 billion (2017)[1] (2017)
US$ 1.540 billion[1] (2017)
US$ 1.2115 billion[1] (2016)
Total assets US$ 0.901 billion[1] (2015)
Total equity US$ 0.705 billion[1] (2014)
Number of employees
15,500[2] (2017)
Website

The company makes, sells and distributes Coca-Cola products along with other beverages, distributing to a market of 65 million people in 14 states.[4] Coca-Cola Consolidated is based in the southeast, midwest, and mid-atlantic portion of the United States. The Company has 13 manufacturing facilities, 80 distribution and warehouses, with Corporate offices located in Charlotte, North Carolina.[5]

Corporate history

In 1902, the company that later became Coca-Cola Bottling Company Consolidated was founded by the current chairman's great-grandfather, J. B. Harrison.[6] That company was merged with other bottlers to form Coca-Cola Bottling Co. Consolidated in 1973.[6] The company was incorporated in 1980,[7] acquired Wometco in 1985,[6] and acquired Sunbelt Coca-Cola in 1991.[6]

In 2018, the company announced a major expansion into Kentucky.[8][9][10]

Discontinuation of Tab

In October 2018, Coca-Cola Bottling Consolidated denied it had discontinued distribution of Tab, though it admitted it had reduced its distribution.[11][12][13]

Financials

As of January 1, 2017, The Coca-Cola Company owns approximately 35% of the Company's total outstanding common stock, representing approximately 5% of the total voting power of the Company's combined Common Stock and Class B Common Stock. J. Frank Harrison III, the Chairman of the Board and the Chief Executive Officer of the Company, owns shares of Common Stock and Class B Common Stock representing approximately 86% of the total voting power of the Company's combined stock and Class B Common Stock.

Tax Incentives

In June 2018, Kentucky governor Matt Bevin announced tax incentives of $3.5 million for Consolidated to expand in Erlanger.[14] The incentives were part of a deal for Consolidated expansion in the area.[15]

Worker strife

The company, some of which its locales are unionized by the Teamsters, has seen strike initiatives.[16]

Community involvement

Coca-Cola Consolidated sponsors local events and many community organizations, including the YMCA.[17] Since 2008, Coca-Cola Consolidated has partnered with the World Wildlife Fund (WWF) to promote sustainable water policies, including water reuse practices, to protect and restore aquatic diversity.[18] Following the October 2015 North American storm complex Consolidated donated bottled water to flood victims.[19] It also supports public school teachers in Arkansas.[20]

Official website

References
  1. "NASDAQ, COKE". NASDAQ.
  2. "Coca-Cola Bottling". Fortune. Retrieved 2019-01-21.
  3. Laura M. Holson (19 October 2018). "Where has all the Tab gone? Fans panic at a shortage". San Francisco Chronicle. Retrieved 3 November 2018. Coca-Cola Bottling Co. Consolidated, the largest independent bottler and distributor of Coca-Cola products in the United States.
  4. "About". www.cokeconsolidated.com. Retrieved 2019-12-17.
  5. "Products & Locations". www.cokeconsolidated.com. Retrieved 2017-04-05.
  6. "about us". Archived from the original on 2008-06-17. Retrieved 2008-06-28.
  7. "SEC FILING | Coca Cola Bottling Form 10-K". services.corporate-ir.net. Retrieved 2017-04-05.
  8. https://www.bizjournals.com/cincinnati/news/2018/06/28/coca-cola-to-open-huge-facility-in-nky-create-430.html
  9. https://plasticsinpackaging.com/online/coca-cola-to-build-kentucky-distribution-facility/
  10. https://www.foodbev.com/news/coca-cola-consolidated-to-build-new-facility-in-kentucky/
  11. Laura M. Holson. "Where Has All the Tab Gone? A Shortage Panics Fans". The New York Times. Retrieved 27 October 2018. Others blamed Coca-Cola Bottling Company Consolidated, the largest independent bottler and distributor of Coca-Cola products in the United States. Devotees of the drink who called customer service in recent weeks said they were told that the bottler had discontinued offering Tab in stores in portions of its 14-state territory, which includes Ohio, Kentucky, Virginia, North Carolina and the District of Columbia. This, the bottler says, is true. “After careful review, we recently removed Tab 12-pack cans from the portfolio of beverages we offer,” the company said in a statement.
  12. Gwen Ihnat (22 October 2018). "Tab-aholics in a frenzy as the beverage disappears from some shelves". The Takeout. Retrieved 27 October 2018. bottler and distributor Coca-Cola Bottling Company Consolidated admits it’s discontinued Tab in stores in parts of its 14-state territory, including Ohio, Kentucky, Virginia, North Carolina and Washington, D.C.
  13. MIKE POMRANZ (19 October 2018). "Tab, Coca-Cola's First Diet Soda, May Be in Trouble (Again)". Food & Wine. Retrieved 27 October 2018. Coca-Cola Bottling Company Consolidated—which is America’s largest independent bottler and distributor of Coke products—did admit it has recently changed its Tab distribution. “After careful review, we recently removed Tab 12-pack cans from the portfolio of beverages we offer,” the company told the NYT in a statement—a move that could affect Tab drinkers in 14 Eastern states.
  14. https://kentucky.gov/Pages/Activity-stream.aspx?n=KentuckyGovernor&prId=714
  15. Melissa Reinert (9 October 2018). "Last vacancy filled at redeveloped Showcase Cinemas site in Erlanger". The Cincinnati Enquirer. Retrieved 3 November 2018. Coca-Cola Bottling Co. Consolidated announced its commitment to be a part of the $50 million redevelopment of the old Showcase Cinemas site earlier this year. Coca-Cola Bottling Co. will have its own building. Cincinnati-based developer Al Neyer is constructing the two commercial buildings on 135 acres located just off of I-71/75 and I-275. Coca-Cola Bottling Co.'s move, to a site you can see from I-275, will create more than 430 full-time jobs including positions in distribution, sales and warehouse functions. Company leaders anticipate starting work as soon as possible and expect to open by late summer 2019.
  16. https://www.wvgazettemail.com/business/coca-cola-bottling-company-workers-in-bluefield-authorize-a-strike/article_f1d5f8c0-19e9-5d84-b456-e4ffe4bf50a4.html
  17. "Community Involvement". Retrieved 2010-05-08.
  18. "Sustainability | Coca-Cola Consolidated". www.cokeconsolidated.com. Retrieved 2017-04-05.
  19. https://www.dailycsr.com/Coca-Cola-Bottling-Co-Consolidated-Provides-Drinking-Water-Bottles-To-The-Flood-Victims_a352.html
  20. https://www.kark.com/news/local-news/good-news-matters-coca-cola-consolidated-and-kroger-honors-teachers/1552711869
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.