Johnston May Be The Bottler That Refreshes

Stockholders at Coca-Cola Co. have plenty to cheer about. Average annual return on the stock has been 29% for the past five years. On the other hand, shareholders of the soft-drink giant's 49%-owned Coca-Cola Enterprises Inc., the largest Coke bottler, are apt to be groaning. The stock is languishing around 14 3/8, slightly below the initial offering price of 16 five years ago.

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