.svg){kind=link}
The story
Founded by Asa Griggs Candler and John Pemberton on May 8, 1886, in Atlanta.1
In July 1886, pharmacist John Stith Pemberton from Columbus, Georgia, invented the original Coca-Cola drink, which was advertised as helpful in the relief of headaches and to be placed on sale primarily in drugstores as a medicinal beverage. Pemberton had made many mixing experiments and reached his goal during the month of May, but the new product was as yet unnamed and uncarbonated. Pemberton's bookkeeper, Frank Mason Robinson, is credited with naming the product and creating its logo. Robinson chose the name Coca-Cola because of its two main ingredients (coca leaves and kola nuts) and because it is an alliteration. John Pemberton had taken a break and left Robinson to make, promote, and sell Coca-Cola on his own. Robinson promoted the drink with the limited budget that he had and succeeded.
American businessman Asa Griggs Candler purchased the Coca-Cola formula and brand, forming the Coca-Cola Company in Atlanta in 1892. By 1895, Coca-Cola was being sold nationwide. In 1919, the company was sold to Ernest Woodruff's Trust Company of Georgia, after which it was soon reincorporated under the Delaware General Corporation Law that same year.
Coca-Cola's first ad read, "Coca-Cola. Delicious! Refreshing! Exhilarating! Invigorating!" Candler was one of the first businessmen to use merchandising in his advertising strategy. As of 1948, Coca-Cola had claimed about 60% of its market share. By 1984, the Coca-Cola Company's market share decreased to 21.8% due to new competitors.
The company's 29-story headquarters building in Atlanta, known as One Coca-Cola Plaza, was designed by FABRAP and completed in 1980.
Acquisitions
Coca-Cola acquired Minute Maid in 1960 for an undisclosed amount. In 1982, it acquired the movie studio Columbia Pictures for $692 million. Coca-Cola then launched a series of entertainment takeovers, namely Merv Griffin Enterprises and Embassy Communications in the mid-1980s, forming the Entertainment Business Sector, which would later merge with Tri-Star Pictures to start out Columbia Pictures Entertainment, with CPE holding a stake in the company. Coca-Cola sold Columbia to Sony for $1.5 billion in 1989. In 1986, Coke sold off two assets, namely Presto Products and Winker-Flexible Products, to an investment group led by E.O. Gaylord for $38 million.
The company acquired the Indian cola brand Thums Up in 1993, and the American soda company Barq's in 1995. In 1999, Coca-Cola purchased 50% of the shares of Inca Kola for $200 million, subsequently taking control of overseas marketing and production for the brand. In 2001, it acquired the Odwalla brand of fruit juices, smoothies, and bars for $181 million. It announced Odwalla's discontinuation in 2020. In 2007, it acquired Fuze Beverage from founder Lance Collins and Castanea Partners for an estimated $250 million.
The company's 2009 bid to buy Chinese juice maker Huiyuan Juice Group ended when China rejected its $2.4 billion bid, on the grounds the resulting company would be a virtual monopoly. Nationalism was also thought to be a reason for aborting the deal.
In 2011, it acquired the remaining stake in Honest Tea, having bought a 40% stake in 2008 for $43 million. In 2013, it finalized its purchase of ZICO, a coconut water company. In August 2014, it acquired a 16.7% (currently 19.36% due to stock buy backs) stake in Monster Beverage for $2.15 billion with an option to increase it to 25%, as part of a long-term strategic partnership that includes marketing and distribution alliance, and product line swap. In 2015, the company took a minority stake ownership in the cold pressed juice manufacturer, Suja Life LLC. In December 2016, it bought many of the former SABMiller's Coca-Cola operations. The Coca-Cola Company owns a 68.3% stake in Coca-Cola Bottlers Africa. Coca-Cola Bottlers Africa is headquartered in Port Elizabeth, South Africa.
Read the full text
The Coca-Cola Company acquired a 40% stake in Nigerian snack and beverage company Chi Limited on January 30, 2016. The Coca-Cola Company acquired the remaining 60% stake in Chi Ltd on January 30, 2019. In 2017, the Coca-Cola Company acquired Mexican sparkling water brand Topo Chico. On August 31, 2018, it agreed to acquire Costa Coffee from Whitbread for £3.9bn. The acquisition closed on January 3, 2019. During August 2018, the Coca-Cola Company acquired Moxie for an undisclosed amount. On August 14, 2018, the Coca-Cola Company announced a minority interest in Bodyarmor. On September 19, 2018, the Coca-Cola Company acquired Organic & Raw Trading Co. Pty Ltd, the manufacturer of Mojo Kombucha in Willunga, Australia. In 2022 Coca-Cola shut down production of Mojo.
From Wikipedia’s article on The Coca-Cola Company, shared under CC BY-SA 4.0.7