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COCA-COLA CONSOLIDATED, THE COCA-COLA COMPANY FORM JOINT VENTURE COMPANY TO OPERATE NEW NORTH, SOUTH CAROLINA BOTTLING TERRITORIES

 CHARLOTTE, N.C., July 6 /PRNewswire/ -- Coca-Cola Bottling Co. Consolidated (NASDAQ-NMS: COKE) today announced it has completed a joint venture agreement with The Coca-Cola Company (NYSE: KO) which significantly increases the company's selling territories managed or owned by Coca-Cola Consolidated in eastern North and South Carolina.
 Charlotte-based Coca-Cola Consolidated and The Coca-Cola Company, Atlanta, will each own a 50 percent stake in the joint venture. Coca-Cola Consolidated, the nation's second largest bottler of Coca-Cola, will provide production and management services.
 Coca-Cola Consolidated Vice Chairman Frank Harrison, III said the additional selling territories include sales center facilities in Wilmington, Greenville, Goldsboro, New Bern, Kinston, Rocky Mount, Weldon and Whiteville in North Carolina; Marion, Florence and Conway in South Carolina; and Emporia in Virginia. The additional territories will represent approximately a 15 percent increase in the case sales volume managed by the company.
 "This is a win-win arrangement for Coca-Cola Consolidated and The Coca-Cola Company," Harrison said. "This agreement represents a unique business relationship for us which has distinct advantages for both parties."
 "The joint venture allows Coca-Cola Consolidated the opportunity to take advantage of production efficiencies and marketing synergies which will both improve quality and customer service while reducing overall operating costs," Harrison said. With this agreement, Coca-Cola Consolidated, together with the joint venture, will now service more that 90 percent of the Carolinas' population.
 Harrison explained that the joint venture company has acquired assets from Coca-Cola Consolidated of approximately equal value to the operations acquired from The Coca-Cola Company. These territories come primarily from acquisitions by Consolidated in December 1991 of the former Sunbelt Coca-Cola Bottling Company Inc.
 Over the past several years Coca-Cola Consolidated has grown dramatically through internally generated sales increases and strategic acquisitions. The joint venture arrangement with The Cola-Cola Company is consistent with Coca-Cola Consolidated's growth strategy of expansions into attractive, contiguous selling territories.
 -0- 7/6/93
 /CONTACT: Lauren C. Steele, VP Corporate Affairs, Coca-Cola Bottling Co. Consolidated, 704-551-4551/
 (COKE KO)


CO: Coca-Cola Co. Consolidated; The Coca-Cola Company ST: North Carolina, Georgia IN: REA SU: TNM

DF -- CH003 -- 8626 07/06/93 12:36 EDT
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Publication:PR Newswire
Date:Jul 6, 1993
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