Coca-Cola Bottling Co. Consolidated Acquires Distribution Territories and Manufacturing Facilities

10/2/17

CHARLOTTE, N.C., Oct. 02, 2017 (GLOBE NEWSWIRE) -- Coca-Cola Bottling Co. Consolidated (NASDAQ:COKE) today announced that it entered into and completed transactions with The Coca-Cola Company to exchange distribution territory previously served by the Company in parts of southern Alabama, southwestern Georgia, southeastern Mississippi, northwestern Florida and in and around Somerset, Kentucky and a manufacturing facility in Mobile, Alabama previously owned by the Company for distribution territory previously served by Coca-Cola Refreshments USA, Inc. (“CCR”), a wholly-owned subsidiary of The Coca-Cola Company, in parts of Arkansas and two manufacturing facilities previously owned by CCR in Memphis, Tennessee and West Memphis, Arkansas, and to acquire additional distribution territory previously served by CCR in and around Memphis, Tennessee, including in portions of northwestern Mississippi and eastern Arkansas. As part of the transactions, the Company acquired exclusive distribution rights in territory that includes the following major markets: Little Rock, West Memphis and southern Arkansas; and Memphis, Tennessee. The Company relinquished distribution rights in territory that includes Mobile, Leroy and Robertsdale, Alabama; Columbus, Sylvester and Bainbridge, Georgia; Ocean Springs, Mississippi; Panama City, Florida; and Somerset, Kentucky. The definitive agreements with CCR include the exchange and acquisition of distribution territory and manufacturing facilities described in the previously-announced letters of intent dated June 14, 2016 and April 11, 2017 between the Company and The Coca-Cola Company.

The Company also announced today that it entered into and completed a transaction with Coca-Cola Bottling Company United, Inc. (“United”) to exchange distribution territory previously served by the Company in Florence, Alabama, south-central Tennessee and Laurel, Mississippi for distribution territory previously served by United in Spartanburg and portions of Bluffton, South Carolina. Piedmont Coca-Cola Bottling Partnership (“Piedmont”), a majority owned subsidiary of the Company, also entered into and completed a transaction with United to exchange distribution territory previously served by Piedmont in northeastern Georgia for the remainder of the distribution territory in Bluffton, South Carolina previously served by United. The definitive agreement with United includes the exchange of distribution territory described in the previously-announced letter of intent dated June 14, 2016 between the Company and United.

The Company will file a Current Report on Form 8-K with the Securities and Exchange Commission regarding the territory and manufacturing transactions that will be available on the Commission’s website at http://www.sec.gov and on the Company’s website at http://www.cokeconsolidated.com. For more information about the transactions, including the Company’s relationship with The Coca-Cola Company, investors should read the information included in the Company’s Current Report on Form 8-K that will be filed and the agreements filed as exhibits to such report.

About Coca-Cola Bottling Co. Consolidated
Coke Consolidated is the largest independent Coca-Cola bottler in the United States. Our Purpose is to honor God, serve others, pursue excellence and grow profitably. For 115 years, we have been deeply committed to the consumers, customers and communities we serve and passionate about the broad portfolio of beverages and services we offer. We make, sell and distribute beverages of The Coca-Cola Company and other partner companies in more than 300 brands and flavors across 15 states to over 66 million consumers.

Headquartered in Charlotte, N.C., Coke Consolidated is traded on the NASDAQ under the symbol COKE. More information about the company is available at www.cokeconsolidated.com. Follow Coke Consolidated on Facebook, Twitter, Instagram and LinkedIn.

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