SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
Current Report
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported):
March 5, 2003
COCA-COLA BOTTLING CO. CONSOLIDATED
(Exact name of registrant as specified in its charter)
| Delaware |
0-9286 |
56-0950585 | ||
| (State or other jurisdiction of incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
| 4100 Coca-Cola Plaza, Charlotte, North Carolina |
28211 | |
| (Address of principal executive offices) |
(Zip Code) |
(704) 557-4400
(Registrant’s telephone number, including area code)
Item 5. Other Events
The Registrant issued a press release on March 5, 2003 announcing the plan to increase ownership of Piedmont Coca-Cola Bottling Partnership.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
| (a) | Financial Statements. Not applicable. |
| (b) | Pro Forma Financial Information. Not applicable. |
| (c) | Exhibits. The following exhibit is filed herewith: |
| 99.1 | Press release issued on March 5, 2003. |
Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized:
| COCA-COLA BOTTLING CO. CONSOLIDATED (REGISTRANT) | ||||||||
| Date: March 6, 2003 |
BY: |
/s/ David V. Singer | ||||||
| David V. Singer Principal Financial Officer of the Registrant and Executive Vice President and Chief Financial Officer | ||||||||
SECURITIES AND EXCHANGE COMMISSION
Washington, DC
EXHIBITS
CURRENT REPORT
ON
FORM 8-K
| Date of Event Reported: |
Commission File No: | |
| March 5, 2003 |
0-9286 |
COCA-COLA BOTTLING CO. CONSOLIDATED
EXHIBIT INDEX
| Exhibit No. |
Exhibit Description | |
| 99.1 |
Press release issued on March 5, 2003. |
Exhibit 99.1
Coca-Cola Bottling Co. Consolidated, 4100 Coca-Cola Plaza, Charlotte, NC 28211
|
|
News Release | |||
| Media Contact: |
Lauren C. Steele | |||
| VP Corporate Affairs | ||||
| 704-557-4551 | ||||
| Investor Contact: |
David V. Singer | |||
| Executive VP & CFO | ||||
| 704-557-4604 | ||||
| FOR IMMEDIATE RELEASE |
Symbol: COKE | |||
| March 5, 2003 |
Quoted: The Nasdaq Stock Market (National Market) | |||
Coca-Cola Bottling Co. Consolidated Announces Plan to Increase Ownership of
Piedmont Coca-Cola Bottling Partnership
CHARLOTTE, NC—Coca-Cola Bottling Co. Consolidated today announced that its Board has authorized the purchase of half of The Coca-Cola Company’s remaining interest in Piedmont Coca-Cola Bottling Partnership. This transaction, which is expected to close on March 31, 2003, will boost Consolidated’s ownership interest in Piedmont from approximately 55% to slightly more than 77%.
J. Frank Harrison, III, Chairman and CEO said, “This transaction is the second step in the Company’s acquisition of The Coca-Cola Company’s interest in Piedmont. We purchased 4.7% in January, 2002 for $10 million and are now purchasing an additional 22.7% for $53.5 million. We anticipate this transaction to add approximately $.10 to earnings per share in 2003.” Mr. Harrison also said, “Although no formal agreement exists, the Company expects to purchase The Coca-Cola Company’s remaining interest at some point in the future. Acquiring Piedmont in several steps has supported Consolidated’s objectives of owning all of Piedmont while reducing debt and improving the Company’s financial ratios.”
This transaction is subject to negotiation and execution of definitive documentation and neither party is obligated until such documentation is executed.
Forward-looking statements.
Included in this news release are several forward-looking management comments and other statements that reflect management’s current outlook for future periods. These expectations are based on the Company’s current plans, and are subject to future events and uncertainties. These statements include the expected closing of the purchase of half of The Coca-Cola Company’s remaining interest in Piedmont Coca-Cola Bottling Partnership, the Company’s anticipation that the transaction will add approximately $.10 to earnings per share in 2003, the Company’s expectation of purchasing The Coca-Cola Company’s remaining interest at some point in the future and the effects of acquiring Piedmont in several steps as they relate to the objectives of reducing debt and improving financial ratios. Among the future events and uncertainties that could cause actual results to differ include an inability to agree on terms with The Coca-Cola Company in the future, below targeted operating results at Piedmont or other changes that would not allow the Company to meet its internal targets for financial ratios.