-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, ElO+c7pfw8JpAhBQeAk0/syt5M02TyxrQDC0G2khOcVgxDGsz9918sCjpOqL0mB7 873TRlld5uP4ivPbQkzlhg== 0000950168-99-002661.txt : 19991025 0000950168-99-002661.hdr.sgml : 19991025 ACCESSION NUMBER: 0000950168-99-002661 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19991019 ITEM INFORMATION: FILED AS OF DATE: 19991022 FILER: COMPANY DATA: COMPANY CONFORMED NAME: COCA COLA BOTTLING CO CONSOLIDATED /DE/ CENTRAL INDEX KEY: 0000317540 STANDARD INDUSTRIAL CLASSIFICATION: BOTTLED & CANNED SOFT DRINKS CARBONATED WATERS [2086] IRS NUMBER: 560950585 STATE OF INCORPORATION: DE FISCAL YEAR END: 0103 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 000-09286 FILM NUMBER: 99732120 BUSINESS ADDRESS: STREET 1: 1900 REXFORD RD CITY: CHARLOTTE STATE: NC ZIP: 28211 BUSINESS PHONE: 7045514400 MAIL ADDRESS: STREET 1: 1900 REXFORD RD CITY: CHARLOTTE STATE: NC ZIP: 28211 8-K 1 COCA-COLA BOTTLING CO. CONSOLIDATED FORM 8-K SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ---------------------------------- FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED) OCTOBER 19, 1999 ---------------- COCA-COLA BOTTLING CO. CONSOLIDATED ----------------------------------- (Exact name of registrant as specified in its charter)
Delaware 0-9286 56-0950585 -------- ------ ---------- (State or other jurisdiction (Commission File Number) (IRS Employer Identification No.) of incorporation)
4100 Coca-Cola Plaza, Charlotte, North Carolina 28211 ------------------------------------------------------ (Address of principal executive offices Zip Code) (704) 551-4400 -------------- Registrant's telephone number, including area code Item 5. Other Events - --------------------- On October 19, 1999, the Company issued the following press release: NEWS RELEASE [COCA-COLA GRAPHIC APPEARS HERE] Media Contact: Lauren C. Steele FOR IMMEDIATE RELEASE VP Corporate Affairs October 19, 1999 704-551-4551 Investor Contact: David V. Singer VP, Chief Financial Officer 704-551-4604 COCA-COLA CONSOLIDATED TO ACQUIRE 100 PERCENT CONTROL OF SIGNIFICANT CAROLINAS BOTTLING TERRITORIES FOR $320 MILLION
o TRANSACTION VALUED AT $320 MILLION o SALES JUMP TO $1.3 BILLION o SOLIDIFIES POSITION IN SOUTHEAST, MID ATLANTIC o SHARE OF U.S. COKE SALES ABOVE 8 PERCENT
CHARLOTTE, NC---Coca-Cola Bottling Consolidated today said it is set to acquire 100 percent interest in major selling territories in the Carolinas in a $320 million transaction, further solidifying the bottler's position in the Southeast and Mid-Atlantic region. Chairman and CEO J. Frank Harrison III said Coca-Cola Consolidated is in negotiations to acquire The Coca-Cola Company's 50 percent interest in Piedmont Coca-Cola Bottling Partnership. Coca-Cola Consolidated anticipates the transaction will include the issuance by Coca-Cola Consolidated of $118 million of preferred stock with a dividend yield of 4.3 percent. Separately, Coca-Cola Consolidated will repay $202 million in outstanding debt and lease obligations of the partnership, bringing the total value of the transaction to $320 million. Since 1993, the Charlotte-based bottler has been a joint venture partner with The Coca-Cola Company in the Piedmont Coca-Cola Bottling Partnership, a company with franchise territories in much of South Carolina and parts of Eastern North Carolina. Coca-Cola Consolidated has served those territories under a management agreement since the formation of the joint venture. This transaction will add significant selling territories in the Carolinas to Coca-Cola Consolidated, representing annual sales of approximately $280 million, further solidifying Coca-Cola Consolidated's position in the Southeast and Mid-Atlantic region. Harrison explained that it is important for Coca-Cola Consolidated to continue to grow in order to meet the challenges of the competitive soft drink business. "The soft drink industry continues to consolidate. Further, our retail customers and suppliers are also consolidating, making it more and more important for us to continue to grow," he said. "There is definite strength in size. As we grow larger, we are not only able to take advantages of efficiencies in production, distribution and materials procurement, but we are better able to forge marketing partnerships with larger retail customers." MORE COCA-COLA CONSOLIDATED TO ACQUIRE CAROLINAS TERRITORIES FROM COCA-COLA CO. IN $300 MILLION TRANSACTION PAGE 2 Coca-Cola Consolidated has grown significantly, both internally, and through acquisitions in recent years. Over the last decade, Coca-Cola Consolidated's internal growth and acquisition program has more than tripled the size of the company from less than 80 million equivalent cases to more than 250 million. Over the past few years, Coca-Cola Consolidated has led the nation in comparable territory volume growth, and has made several contiguous acquisitions. "Due to the structure of the Piedmont Coca-Cola Bottling Partnership we have been generating most of the operational efficiencies available through territory consolidation since mid-1993. However, acquiring 100 percent ownership of this territory is a major step forward for Coca-Cola Consolidated." Harrison said. Already the nation's second largest Coca-Cola bottler, the Piedmont Coca-Cola Bottling Partnership acquisition will boost the bottler's share to 8.2 percent of all Coca-Cola products sold in the US while increasing total sales to more than $1.3 billion. The selling territories acquired in the transaction represents most of South Carolina, including Greenville, Columbia, Charleston and Myrtle Beach and parts of Eastern North Carolina, including Fayetteville, Wilmington, Goldsboro and New Bern. This transaction is subject to regulatory approval and the approval of the Board of Directors of Coca-Cola Consolidated and The Coca-Cola Company and final negotiations of all terms and documentation. --ENJOY COCA-COLA-- COCA-COLA BOTTLING CO. CONSOLIDATED, 4100 COCA-COLA PLAZA, CHARLOTTE, NC 28211 (704) 551-4400 Signatures - ---------- Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized: COCA-COLA BOTTLING CO. CONSOLIDATED ----------------------------------- (REGISTRANT) Date: October 22, 1999 BY: /s/ David V. Singer ------------------------------------------ David V. Singer Principal Financial Officer of the Registrant and Vice President, Chief Financial Officer -----END PRIVACY-ENHANCED MESSAGE-----