SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED)
FEBRUARY 15, 2000
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COCA-COLA BOTTLING CO. CONSOLIDATED
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(Exact name of registrant as specified in its charter)
Delaware 0-9286 56-0950585
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(State or other jurisdiction (Commission File Number) (IRS Employer
of incorporation) Identification No.)
4100 Coca-Cola Plaza, Charlotte, North Carolina 28211
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(Address of principal executive offices Zip Code)
(704) 551-4400
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Registrant's telephone number, including area code
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Item 5. Other Events
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On February 15, 2000, the Company issued the following press release:
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[COCA-COLA NEWS RELEASE
BOTTLING CO.
CONSOLIDATED MEDIA CONTACT: LAUREN C. STEELE
LOGO APPEARS HERE] 704-551-4551
INVESTOR CONTACT: DAVID V. SINGER
704-551-4604
FOR IMMEDIATE RELEASE SYMBOL: COKE (NASDAQ STOCK MARKET)
Tuesday, February 15, 2000
COCA-COLA CONSOLIDATED SAYS ANOTHER BOTTLER BUYS MORE STOCK
o CCE OWNS 8.6 PERCENT
o COCA-COLA CONSOLIDATED 'NOT FOR SALE'
o HARRISON FAMILY CONTROLS 92 PERCENT OF VOTING STOCK
CHARLOTTE--Coca-Cola Bottling Co. Consolidated today said it has been informed
that another bottler, Coca-Cola Enterprises (CCE), has increased its ownership
of Coca-Cola Consolidated's common stock from 5.5 percent to 8.6 percent through
open market purchases.
"Coca-Cola Consolidated is a public company and anyone can buy our stock," said
J. Frank Harrison III, Coca-Cola Consolidated Chairman and CEO. "But I want to
make it abundantly clear that Coca-Cola Consolidated is not for sale and control
of this company will not change."
CCBCC spokesman Lauren Steele explained that while the company is publicly
traded, the Harrison family has firm control over the company, voting 92 percent
of the company's stock. "The Harrison family has been in the Coca-Cola business
since 1902 and is more committed to this business today than ever," Steele said.
"Because of our company's structure, control of Coca-Cola Consolidated will not
and cannot change, no matter who holds a minority position in the company."
CCE purchased its initial position between August 1997 and January 1998 then
increased it recently.
Coca-Cola Consolidated is the nation's second largest Coca-Cola bottler, with
franchise territories in 12 states. The company has grown dramatically over the
last decade and in 1998 and 1999 grew its business well in excess of the
national soft drink industry average.
There has been rapid consolidation in the soft drink industry and Coca-Cola
Consolidated has made numerous acquisitions over the last decade, including the
purchase of three operations in 1999. In addition, the company has consistently
outperformed the Coca-Cola system and the rest of the industry in quality
measurements, volume growth and per capita consumption levels.
"We are a long-term player in the soft drink industry and we expect to continue
to acquire other Coca-Cola franchises and to produce accelerated internally
generated profitable volume growth," Harrison said. "As Coca-Cola Consolidated
and The Coca-Cola Company continue to work very closely together, we believe we
are uniquely positioned to perform well in 2000 and for many years beyond."
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Signatures
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Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized:
COCA-COLA BOTTLING CO. CONSOLIDATED
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(REGISTRANT)
Date: February 22, 2000 BY: /s/ David V. Singer
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David V. Singer
Principal Financial Officer of the Registrant
and
Vice President, Chief Financial Officer
