Coca-Cola Buying Sacramento Bottling Company
Sacramento Coca-Cola Bottling Company announced today that it has been acquired by The Coca-Cola Company. Sacramento Coca-Cola is the sixth-largest independent Coca-Cola bottler in the United States, with territories in all or part of nine counties in northern California.
The purchase price was not disclosed. However, the sale approximates nine times earnings before interest, taxes, depreciation and amortization (EBITDA).
“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 Company,” said Rob Siebers, President and Chief Executive Officer, Sacramento Coca-Cola Bottling Company. “We believe this is the right action to ensure the continued success of Coca-Cola in Northern California.”
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.