Coca-Cola Bottling Co has announced that it has completed its previously announced purchase of half of The Coca-Cola Company’s remaining interest in Piedmont Coca-Cola Bottling Partnership for US$53.5m.
J. Frank Harrison, III, chairman and CEO said: “After this transaction the company’s ownership interest in Piedmont Coca-Cola Bottling Partnership will be 77.3%. We estimate that this transaction will add approximately $010 to earnings per share in 2003.”
Go deeper with GlobalData
Harrison also said: “The company expects to purchase The Coca-Cola Company’s remaining 22.7% interest at some point in the future. Acquiring Piedmont in several steps has supported Consolidated’s objectives of owning all of Piedmont while continuing to improve the Company’s financial ratios.”
