Coca-Cola Consolidated Explained

Coca-Cola Consolidated, Inc.
Former Name:Coca-Cola Bottling Co. Consolidated
Type:Public
Industry:Food processing
Founded:, in North Carolina, U.S.
Founder:J.B. Harrison
Area Served:U.S.
Key People:J. Frank Harrison, III (chairman & CEO)
Products:Beverages
Revenue: [1]
Revenue Year:2017
Operating Income: US$1.54 billion
Income Year:2017
Net Income: US$1.212 billion
Net Income Year:2016
Assets: US$0.901 billion
Assets Year:2015
Equity: US$0.705 billion
Equity Year:2014
Num Employees:16,000
Num Employees Year:December 31, 2021

Coca-Cola Consolidated, Inc., headquartered in Charlotte, North Carolina, is the largest independent Coca-Cola bottler in the United States.[2]

The company makes, sells and distributes Coca-Cola products along with other beverages, distributing to a market of 65 million people in 14 states.[3] 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.[4]

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.[5] That company was merged with other bottlers to form Coca-Cola Bottling Co. Consolidated in 1973. The company was incorporated in 1980,[6] acquired Wometco in 1985, and acquired Sunbelt Coca-Cola in 1991.

In 2018, the company announced a major expansion into Kentucky.[7] [8] [9]

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.[10] [11] [12]

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.[13] The incentives were part of a deal for Consolidated expansion in the area.[14]

Worker strike

The company, some of which its locales are unionized by the Teamsters, has seen strike initiatives.[15]

Community involvement

Coca-Cola Consolidated sponsors local events and many community organizations, including the YMCA.[16] 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.[17] Following the October 2015 North American storm complex Consolidated donated bottled water to flood victims.[18] It also supports public school teachers in Arkansas.[19]

Notes and References

  1. Web site: NASDAQ, COKE . NASDAQ .
  2. News: Laura M. Holson . Where has all the Tab gone? Fans panic at a shortage . 3 November 2018 . . 19 October 2018 . Coca-Cola Bottling Co. Consolidated, the largest independent bottler and distributor of Coca-Cola products in the United States..
  3. Web site: About. www.cokeconsolidated.com. 2019-12-17. 2019-12-19. https://web.archive.org/web/20191219130433/http://www.cokeconsolidated.com/products-and-service-area. dead.
  4. Web site: Products & Locations. www.cokeconsolidated.com. en. 2017-04-05. 2017-04-06. https://web.archive.org/web/20170406021031/http://www.cokeconsolidated.com/products-and-service-area. dead.
  5. Web site: about us . 2008-06-28 . https://web.archive.org/web/20080617193253/http://www.cokeconsolidated.com/about.htm . 2008-06-17 . dead .
  6. Web site: SEC FILING Coca Cola Bottling Form 10-K. services.corporate-ir.net. 2017-04-05. 2020-07-28. https://web.archive.org/web/20200728182026/http://services.corporate-ir.net/SEC.Enhanced/SecCapsule.aspx?c=114845&fid=14893446. dead.
  7. Web site: Demeropolis . Tom . June 28, 2018 . Coca-Cola to open huge facility in NKY, create 430 jobs . February 12, 2023 . The Business Journals.
  8. Web site: Coca-Cola to build Kentucky distribution facility | Plastics in Packaging. 3 July 2018 .
  9. Web site: Coca-Cola Consolidated to build new facility in Kentucky. 2 July 2018.
  10. News: Laura M. Holson . Where Has All the Tab Gone? A Shortage Panics Fans . 27 October 2018 . The New York Times . 17 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..
  11. News: Gwen Ihnat . Tab-aholics in a frenzy as the beverage disappears from some shelves . 27 October 2018 . The Takeout . 22 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..
  12. News: MIKE POMRANZ . Tab, Coca-Cola's First Diet Soda, May Be in Trouble (Again) . 27 October 2018 . Food & Wine . 19 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. . 27 October 2018 . https://web.archive.org/web/20181027143831/https://www.foodandwine.com/news/tab-soda-petition-2018 . dead .
  13. Web site: Error.
  14. News: Melissa Reinert . Last vacancy filled at redeveloped Showcase Cinemas site in Erlanger . 3 November 2018 . . 9 October 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..
  15. Web site: Coca-Cola bottling company workers in Bluefield authorize a strike.
  16. Web site: Community Involvement. 2010-05-08. 2010-09-25. https://web.archive.org/web/20100925011310/http://cokeconsolidated.com/stewardship.html. dead.
  17. Web site: Sustainability Coca-Cola Consolidated. www.cokeconsolidated.com. en. 2017-04-05.
  18. Web site: Coca-Cola Bottling Co. Consolidated Provides Drinking Water Bottles to the Flood Victims.
  19. Web site: Good News Matters: Coca-Cola Consolidated and Kroger Honors Teachers. 26 October 2018.

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