On May 6, 2024, Coca-Cola Consolidated, Inc. announced a Dutch auction self-tender offer to repurchase up to $2 billion of its common stock. Prior to this announcement, Carolina Coca-Cola Bottling Investments, Inc., a subsidiary of The Coca-Cola Company (TCCC), entered into a 2024 Purchase Agreement with Coca-Cola Consolidated. According to the agreement, Coca-Cola Consolidated will acquire shares from the subsidiary, ensuring the latter retains a 21.5% ownership post-transaction. The closing of this agreement is contingent upon the completion of the tender offer, with a minimum purchase price of $925 per share. Additionally, TCCC will maintain the right to nominate a board member for Coca-Cola Consolidated as long as it holds a specified minimum number of shares. The amendment...Show More

On May 6, 2024, Coca-Cola Consolidated, Inc. announced a Dutch auction self-tender offer to repurchase up to $2 billion of its common stock. Prior to this announcement, Carolina Coca-Cola Bottling Investments, Inc., a subsidiary of The Coca-Cola Company (TCCC), entered into a 2024 Purchase Agreement with Coca-Cola Consolidated. According to the agreement, Coca-Cola Consolidated will acquire shares from the subsidiary, ensuring the latter retains a 21.5% ownership post-transaction. The closing of this agreement is contingent upon the completion of the tender offer, with a minimum purchase price of $925 per share. Additionally, TCCC will maintain the right to nominate a board member for Coca-Cola Consolidated as long as it holds a specified minimum number of shares. The amendment also grants preemptive rights to TCCC to maintain its ownership percentage in the event of future stock issuances. This Amendment No. 49 to the Schedule 13D is a continuation of the original filing from May 18, 1987, and includes detailed information on the beneficial ownership of Coca-Cola Consolidated's common stock by TCCC and its subsidiaries, which collectively hold 29.7% of the outstanding shares as of March 18, 2024.