Coca-Cola acquires California bottler
Sacramento Coca-Cola Bottling Co. announced that it has been acquired by The Coca-Cola Co., Atlanta. Sacramento Coca-Cola Bottling is the sixth-largest independent Coca-Cola bottler in the United States, with territories in northern California, it says.
The purchase price was not disclosed. However, the sale approximates nine times earnings before interest, taxes, depreciation and amortization (EBITDA), the company reports.
“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 Co.,” said Rob Siebers, president and chief executive officer of Sacramento Coca-Cola Bottling Co., in a statement. “We believe this is the right action to ensure the continued success of Coca-Cola in northern California.”
Sacramento Coca-Cola Bottling Co. was founded in 1927 whenNathan M. Sellersacquired the rights to sell Coca-Cola in most of northern California, north of San Francisco. Sacramento Coca-Cola Bottling currently distributes Coca-Cola products in all or part of Sacramento, Yolo, Solano, Placer, El Dorado, Amador, Stanislaus, Sutter and Tuolumne counties in California.
"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 of Coca-Cola Refreshments, in a statement.