SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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): June 4, 1996
COCA-COLA ENTERPRISES INC.
(Exact name of registrant as specified in its charter)
Delaware 01-09300 58-0503352
(State of (Commission File No.) (IRS Employer
Incorporation) Identification No.)
2500 Windy Ridge Parkway, Atlanta, Georgia 30339
(Address of principal executive offices, including zip code)
(770) 989-3000
(Registrant's telephone number, including area code)
Page 1 of 6 pages
Exhibit Index page 4
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Item 5. Other Events
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On June 4, 1996, Coca-Cola Enterprises Inc. (the "Company")
issued a press release announcing the signing of a
letter of intent for the Company to acquire Cadbury Schweppes'
51 percent interest and The Coca-Cola Company's 49 percent
interest in the business of Coca-Cola & Schweppes Beverages
Limited in Great Britain.
Item 7. Financial Statements and Exhibits
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(c) Exhibits.
99 Press Release of Coca-Cola Enterprises Inc. issued
June 4, 1996
Page 2 of 6
<PAGE>
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SIGNATURE
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 hereunto duly authorized.
COCA-COLA ENTERPRISES INC.
(Registrant)
E. LISTON BISHOP III
Date: June 4, 1996 By:-------------------------------------
E. Liston Bishop III
Assistant Secretary
Page 3 of 6
<PAGE>
COCA-COLA ENTERPRISES INC.
EXHIBIT INDEX
Exhibit No. Page
99 Press release of Coca-Cola Enterprises Inc. 5
issued June 4, 1996
Page 4 of 6
<PAGE>
EXHIBIT 99
COCA-COLA ENTERPRISES PRESS RELEASE
- ------------------------------------------------------------------------------
CONTACT: Margaret Carton - Investor Relations
(770) 989-3622
Laura Asman - Media Relations
(770) 989-3023
FOR IMMEDIATE RELEASE
COCA-COLA ENTERPRISES ANNOUNCES LETTERS OF INTENT
TO ACQUIRE THE COCA-COLA AND CADBURY SCHWEPPES
BOTTLING BUSINESS IN GREAT BRITAIN
ATLANTA, June 4, 1996 -- Coca-Cola Enterprises Inc. today announced
that the Company has signed letters of intent to acquire both Cadbury
Schweppes' 51 percent interest and The Coca-Cola Company's 49 percent
interest in the business of Coca-Cola & Schweppes Beverages Limited (British
Bottler). The British Bottler produces products of The Coca-Cola Company and
Cadbury Schweppes for distribution in England, Scotland, Wales, and the Isle
of Man. Coca-Cola Enterprises is acquiring the British Bottler for a
transaction value (purchase price and acquired debt net of other long-term
obligations) of approximately 1.2 billion British pounds, or approximately
$1.85 billion based on current exchange rates. Under Coca-Cola Enterprises'
ownership, the British Bottler will have long-term contracts to continue to
produce and distribute products of both Cadbury Schweppes and The Coca-Cola
Company in the acquired territories.
Coca-Cola Enterprises expects to finance the acquisition through the
issuance of debt. The operations of the British Bottler will be additive to
cashflow immediately. Strong operating performance by the British Bottler
should minimize the Company's earnings per share dilution to less than
5 cents in the remainder of 1996 and less than 5 cents in full-year 1997. In
1998, operating performance combined with European synergies are expected to
offset any potential earnings dilution. Including the dilution from the
British Bottler acquisition and reflecting the current operating momentum of
existing operations, the Company expects to generate comparable 1996 earnings
per share growth of at least 35 percent.
Summerfield K. Johnston, Jr., vice chairman and chief executive
officer of Coca-Cola Enterprises, stated, "The acquisition of the British
bottling operations will be another significant step towards our objective of
increasing the Company's ownership in the high-growth, high-potential
international market. We are confident that our recent acquisition activity
will contribute to increasing long-term share-owner value."
Mr. Johnston continued, "Since its inception in 1986, Coca-Cola
Enterprises has been the world's largest bottler by virtue of its significant
presence in The Coca-Cola Company's domestic system. Our proposed
acquisitions in Great Britain, France, and Belgium, combined with our current
operations in the Netherlands and the United States, create a global bottler
with a vital role in the worldwide liquid nonalcoholic refreshment business."
On a proforma basis, including the British Bottler and the pending
French and Belgian acquisition, Coca-Cola Enterprises would have sold
approximately 28 percent of its 1995 unit cases outside the United States.
In 1995, the British Bottler generated net operating revenues of
approximately $1.4 billion and case sales of 387 million unit cases. The
British Bottler's unit case volume increased 11 percent in 1995 and reflected
an average 1995 per capita consumption of 184 eight-ounce servings. The
average 1995 per capita consumption in Coca-Cola Enterprises' United States
territories was approximately 300 eight-ounce servings.
Coca-Cola Enterprises expects to complete this acquisition during the
third quarter of 1996. The proposed transaction is subject to negotiation of
a definitive purchase agreement and requires approval by the Coca-Cola
Enterprises Board of Directors and its Affiliated Transaction Committee and
all required regulatory agencies.
Coca-Cola Enterprises Inc. (NYSE: CCE) is the world's largest bottler
of products of The Coca-Cola Company, distributing approximately 57 percent of
The Coca-Cola Company's United States bottle and can volume. Coca-Cola
Enterprises is also the sole licensed bottler for products of The Coca-Cola
Company in the Netherlands.
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