Sacramento Coca-Cola Bottling Company bought by soft drink firm
Jan 02, 2013 (The Sacramento Bee - McClatchy-Tribune Information Services via COMTEX) --
The Sacramento Coca-Cola Bottling Co. announced today that it has been acquired by the Coca-Cola Co.
The local operation is billed as the sixth-largest independent Coca-Cola bottler in the United States.
Financial details were not disclosed.
However, the parties said the sale is the equivalent of nine times earnings before interest, taxes, depreciation and amortization.
"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 and CEO of the local bottling company. "We believe this is the right action to ensure the continued success of Coca-Cola in Northern California."
Sacramento Coca-Cola currently distributes Coca-Cola products in all or part of nine California counties: Sacramento, Yolo, Placer, El Dorado, Amador, Stanislaus, Sutter, Solano and Tuolumne.
Sacramento Coca-Cola Bottling Co. Inc. employs about 500 in the Central Valley. Its general office and distribution center is at 4101 Gateway Park Blvd. in Sacramento, and its production facility is at 2200 Stockton Blvd.
It also has offices and a distribution center in Modesto.
The local company was founded in 1927 when Nathan Sellers acquired the rights to sell Coca-Cola in most of Northern California, north of San Francisco.
Read more Thursday in The Sacramento Bee and at Sacbee.com.
Call The Bee's Mark Glover, (916) 321-1184.
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