Coca-Cola Consolidated Announces Final Results of Tender Offer

Core Viewpoint - Coca-Cola Consolidated, Inc. has successfully completed a modified "Dutch auction" tender offer, purchasing a total of 14,391.5 shares of its Common Stock at a price of $925 per share, amounting to approximately $13.3 million [7][8]. Group 1: Tender Offer Details - The tender offer expired on June 18, 2024, at 5:00 p.m. New York City time [7]. - The company accepted all validly tendered shares, which represent about 0.2% of the outstanding shares as of the expiration date [8]. - Following the tender offer, the company plans to repurchase an additional 598,619 shares from Carolina Coca-Cola Bottling Investments, Inc. for approximately $553.7 million, which will result in CCCBI owning 21.5% of the company's outstanding shares [2]. Group 2: Future Share Repurchase Plans - The company may consider purchasing additional shares in the open market or through private transactions after July 5, 2024, depending on market conditions and other factors [9]. - The decision to repurchase shares in the future will be influenced by the market price of shares, the company's financial condition, and general economic conditions [9]. Group 3: Company Overview - Coca-Cola Consolidated is the largest Coca-Cola bottler in the United States, serving approximately 60 million consumers across 14 states and the District of Columbia [5]. - The company has been committed to its purpose of honoring God, serving others, pursuing excellence, and growing profitably for over 122 years [5].