Coca-Cola bottler up for sale: CEO J. Bruce Llewellyn seeks retirement.AFTER 21 YEARS IN THE BOTTLING BUSINESS, J. BRUCE Bruce, Scottish royal family descended from an 11th-century Norman duke, Robert de Brus. He aided William I in his conquest of England (1066) and was given lands in England. Llewellyn Llew·el·lyn , Richard 1906-1983. Welsh-born British writer noted for his novel How Green Was My Valley (1940), a portrait of life in a Welsh mining village. , 79, will be leaving "The Coke Side of Life" behind. Llewellyn's firm, Brucephil Inc., the parent company of the Philadelphia Coca-Cola Bottling Co. (No. 5 on the BE INDUSTRIAL/SERVICE 100 list with $540 million in sales), has signed an agreement to sell its remaining shares to the Coca-Cola Co. The Coca-Cola Co. currently owns 31% of Philly Coke, which manufactures approximately 2% of all Coke products in the U.S. If the purchase is completed, the soft drink giant will hold a controlling interest controlling interest The ownership of a quantity of outstanding corporate stock sufficient to control the actions of the firm. Controlling interest often involves ownership of significantly less than 51% of a firm's outstanding stock because many owners fail . Analysts speculate that Coca-Cola will eventually sell its shares to another bottler. "Coca-Cola's strategy for owning bottlers hasn't changed," says Scott Williamson Scott Ryan Williamson (born February 17, 1976 in Fort Polk North, Louisiana) is a right-handed relief pitcher who is currently a free agent. He has played for the Cincinnati Reds (1999-2003), Boston Red Sox (2003-04), Chicago Cubs (2005-2006), and San Diego Padres (2006). , a Coca-Cola spokesman. "Long term we do not see ourselves owning bottling companies A bottling company is a commercial enterprise whose output is the bottling of beverages for distribution. Many bottling companies are franchisees of corporations such as Coca-Cola and PepsiCo who distribute the beverage in a specific geographic region. other than in certain situations. Beyond distressed bottlers and bottlers in strategic locations ... it would be premature to speculate about what we may ultimately do regarding the Philadelphia Coca-Cola Bottling Company." The potential sale is subject to regulatory approval and other terms and conditions. If approved, the transfer of ownership is expected no later than early 2009. Before purchasing the bottling company, Llewellyn owned Fedco Foods Corp., a chain of 10 food stores in the Bronx, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of . Llewellyn elevated Fedco's earnings by $82 million; by the time he sold it in 1984, Fedco had become the nation's largest minority-owned retail business. Llewellyn attacked the bottling business with the same sense of industry and drive. "If you're not willing to be competitive, you're not going to make it," he asserted in a 1986 interview with BLACK ENTERPRISE (see "Bruce: The Boss," September 1986). Evidently Llewellyn knows how to compete--Philly Coke's sales have increased by $300 million to $540 million for 2005. Why Llewellyn did not sell the franchise's shares directly to another bottler is unknown. Llewellyn's imprint im·print tr.v. im·print·ed, im·print·ing, im·prints 1. To produce (a mark or pattern) on a surface by pressure. 2. To produce a mark on (a surface) by pressure. 3. on the Coke family is no doubt permanent, but now he says he would like the Coca-Cola Co. to shepherd the Philadelphia Coca-Cola Bottling Co. into the future. |
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