Coca-Cola completes $3.4 billion buyout of North American operations of Coca-Cola EnterprisesBy AP
Sunday, October 3, 2010
Coca-Cola closes $3.4 billion bottler buyout
ATLANTA — Coca-Cola has completed its $3.4 billion buyout of the North American operations of its largest bottler.
The world’s largest soft drink maker said Sunday it has closed the deal for the domestic unit of Coca-Cola Enterprises.
The bottler’s shareholders approved the deal on Friday. Earlier in the week regulators approved the sale with conditions, namely that Coca-Cola restrict its access to business information from rival Dr Pepper Snapple Group. Some of Dr Pepper’s drinks are bottled by Coca-Cola Enterprises.
Coca-Cola announced the deal in February, just after PepsiCo Inc. made a similar move. Coca-Cola’s deal includes assuming $8.8 billion in debt.
Soft drink makers want more control over distribution as they deal with changing consumer tastes.