Sacramento Coca-Cola Bottling Co. announced recently that it has been acquired by The Coca-Cola Co. Sacramento Coca-Cola is the sixth-largest independent Coca-Cola bottler in the U.S., 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 Co.,” said Rob Siebers, president and chief executive officer, Sacramento Coca-Cola Bottling Co., in a prepared statement. “We believe this is the right action to ensure the continued success of Coca-Cola in Northern California.”
Sacramento Coca-Cola Bottling Co. was founded in 1927 whenNathan M. Sellersacquired the rights to sell Coca-Cola in most of Northern California, north of San Francisco. Sacramento Coca-Cola currently distributes Coca-Cola products in all or part of the nine California Counties of Sacramento, Yolo, Solano, Placer, El Dorado, Amador, Stanislaus, Sutter and Tuolumne.
"We appreciate all that The Sellers family has done to build our brands and look forward to carrying on their legacy of service to the people of Northern California,” said Glen Walter, president and chief executive officer, Coca-Cola Refreshments.