Coca-Cola Buys Remaining Shares of Philadelphia Bottler
The potential sale is subject to regulatory approval and certain other terms and conditions. If approved, the transferal of ownership from Brucephil to The Coca-Cola Company is expected to occur no later than early 2009.
05/09/06 The Coca-Cola Company has announced that it has signed agreements with J. Bruce Llewellyn and Brucephil, Inc., the parent company of The Philadelphia Coca-Cola Bottling Company, for the potential purchase of the remaining shares of Brucephil not currently owned by The Coca-Cola Company. The agreements provide for The Coca-Cola Company’s purchase of the shares upon its own election or upon the election of Mr. Llewellyn. If purchased, The Coca-Cola Company would gain a controlling interest in The Philadelphia Coca-Cola Bottling Company.
"Twenty-three years ago I became a part of the Coca-Cola family, and it has been a privilege to build The Philadelphia Coca-Cola Bottling Company into the successful business it has become," said Llewellyn. "I have now come full circle, and I have asked The Coca-Cola Company to consider stewarding The Philadelphia Coca-Cola Bottling Company into the future."
The potential sale is subject to regulatory approval and certain other terms and conditions. If approved, the transferal of ownership from Brucephil to The Coca-Cola Company is expected to occur no later than early 2009.
"Building on the vision of The Coca-Cola Company, J. Bruce Llewellyn has dedicated himself since 1983 to making The Philadelphia Coca-Cola Bottling Company one of the most respected and innovative bottlers in the Coca-Cola North America system," said Gary Fayard, executive vice president and chief financial officer, The Coca-Cola Company. "Out of respect for his commitment to The Coca-Cola Company and his success, we have entered into these agreements."
