Coca-Cola Enterprises To Acquire Coke Bottlers In Tennessee, Netherlands
ATLANTA (AP) _ The Coca-Cola Co. said Monday it plans to sell bottling subsidiaries in Tennessee and the Netherlands to its biggest independent bottler, Coca-Cola Enterprises, for $360 million.
Coca-Cola Enterprises’ acquisition of Coca-Cola Beverages Nederland BV marks its first international purchase, the company said in a statement.
Coca-Cola Beverages is the bottler of Coke products in the Netherlands, serving about 15 million people. It generated revenues last year of more than $320 million.
CCE also plans to buy Roddy Coca-Cola Bottling Co. and the Coca-Cola Bottling Co. of Johnson City, Tenn., which serve more than 1 million people in Tennessee and recorded revenues of about $86 million in 1992.
The Atlanta-based companies said they expect the deal to be completed by the end of June.
Coca-Cola Enterprises is the largest Coca-Cola bottler, distributing more than 50 percent of the soft drink company’s U.S. bottle and can volume. The Coca-Cola Co. owns 44 percent of the bottling company.