US: Coca-Cola Co snaps up Sacramento Coca-Cola Bottling Co
Coca-Cola Co confirmed its Californian purchase yesterday
The company confirmed yesterday (2 January) that it has acquired the unit, which operates in nine counties in the north of the state. While financial details were not disclosed, the transaction “approximates nine times earnings before interest, taxes, depreciation and amortization (EBITDA)”, according to Sacramento Coca-Cola Bottling Co (SCCBC).
“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 & CEO of SCCBC. “We believe this is the right action to ensure the continued success of Coca-Cola in Northern California.”
Founded in 1927, SCCBC, which is the sixth-largest Coca-Cola bottler in the US, employs 467 people in its three Central Valley facilities.
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