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coca-cola bottling -cl b (COKEB) Key Developments

Coca-Cola Bottling Co. Consolidated Signs Deal with Affiliate of The Coca-Cola Company to Expand Franchise Territory

Coca-Cola Bottling Co. Consolidated has reached an agreement with an affiliate of The Coca-Cola Company to expand the bottler's franchise territory to include the Paducah and Pikeville territories. The company has inked agreements with an affiliate of The Coca-Cola Company to exchange the bottler's franchise territory in Jackson, Tennessee territory currently served by CCR in Lexington, Kentucky and to expand the bottler's franchise territory to include Louisville, Kentucky and Evansville, Indiana. The definitive agreement and other agreements to be entered into at closing will offer the company the exclusive rights to distribute beverage brands owned by The Coca-Cola Company. Additionally, these agreements will also enable the company to distribute certain other beverage brands not owned by The Coca-Cola Company that are currently being distributed in the Paducah and Pikeville territories by CCR.

Coca-Cola Bottling Consolidated Announces Agreement with Coca-Cola Company to Expand Franchise Territory

Coca-Cola Bottling Co. Consolidated announced it has signed a definitive agreement with an affiliate of The Coca-Cola Company to expand the bottler's franchise territory to include the Paducah and Pikeville territories currently served by Coca-Cola Refreshments USA Inc. This agreement represents the last phase of the proposed franchise territory expansion described in the previously-announced Letter of Intent from April 2013 between the Company and The Coca-Cola Company. The company expects the transaction to close in early May 2015. As previously disclosed, the company has signed definitive agreements with an affiliate of The Coca-Cola Company to exchange the bottler's franchise territory in Jackson, TN for territory currently served by CCR in Lexington, KY and to expand the bottler's franchise territory to include Louisville, KY and Evansville, IN.

Coca-Cola Bottling Co. Consolidated Announces Closing of Transaction to Expand Franchise Territory

Coca-Cola Bottling Co. Consolidated announced it has closed its previously disclosed agreement with The Coca-Cola Company to expand the bottler's franchise territory to include Cleveland and Cookeville, TN. This closing represents an additional phase of the proposed franchise territory expansion described in the previously-announced Letter of Intent between the Company and The Coca-Cola Company. As previously disclosed, the company has signed definitive agreements with The Coca-Cola Company to exchange the bottler's franchise territory in Jackson, TN for territory currently served by Coca-Cola Refreshments USA Inc. and to expand the bottler's franchise territory to include Louisville, KY and Evansville, IN. The Company is continuing to work towards a definitive agreement with The Coca-Cola Company for the remainder of the proposed franchise territory expansion described in the previously-announced Letter of Intent, including Paducah and Pikeville, KY.

Coca-Cola Bottling Co. Consolidated Declares Dividend for the First Quarter of 2015, Payable on February 13, 2015

Coca-Cola Bottling Co. Consolidated announced that the Board of Directors has declared a dividend for the first quarter of 2015 of $0.25 per share on shares of the company's common stock and class B Common stock payable on February 13, 2015 to shareholders of record as of the close of business on January 30, 2015.

Coca-Cola Bottling Co. Consolidated Announces Agreement with The Coca-Cola Company to Expand Franchise Territory

Coca-Cola Bottling Co. Consolidated announced it has signed a definitive agreement with an affiliate of The Coca-Cola Company to expand the bottler’s franchise territory to include the Louisville, Kentucky and Evansville, Indiana territories currently served by Coca-Cola Refreshments USA Inc. This agreement represents an additional phase of the proposed franchise territory expansion described in the previously-announced Letter of Intent between the company and The Coca-Cola Company. The company expects the transaction to close by the end of February 2015. The company is continuing to work towards definitive agreements with The Coca-Cola Company for the remainder of the proposed franchise territory expansion described in the previously-announced Letter of Intent, including Paducah and Pikeville, KY. The definitive agreement and other agreements to be entered into at closing will provide the company the exclusive rights to distribute beverage brands owned by The Coca-Cola Company as well as certain other beverage brands not owned by The Coca-Cola Company that are currently being distributed in the Louisville and Evansville territories by CCR. The transaction includes the purchase by the company of distribution assets and certain working capital items from CCR relating to these territories and the purchase of exclusive rights to distribute certain non-Coca-Cola beverage brands in these territories. The transaction also includes the grant by CCR to the company of exclusive rights to distribute beverage brands owned by The Coca-Cola Company in these territories under a comprehensive beverage agreement to be entered into at closing. Under such agreement, the company will make a quarterly sub-bottling payment to CCR on a continuing basis after the closing for the grant of such exclusive rights.

 

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Price/Book 4.5x
Price/Cash Flow 40.5x
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