The Coca-Cola Company


The Coca-Cola Company is an American multinational corporation founded in 1892 headquartered in Atlanta, Georgia. It manufactures, sells and markets soft drinks including Coca-Cola, other non-alcoholic beverage concentrates and syrups, and alcoholic beverages. Its stock is listed on the New York Stock Exchange and is a component of the DJIA and the S&P 500 and S&P 100 indices.
Coca-Cola was developed in 1886 by pharmacist John Stith Pemberton. At the time it was introduced, the product contained the stimulants cocaine from coca leaves and caffeine from kola nuts which together acted synergistically. The coca and the kola are the source of the product name and led to Coca-Cola's promotion as a "healthy tonic". Pemberton had been severely wounded in the American Civil War and had become addicted to the pain medication morphine. At the time, cocaine was being promoted as a "cure" for opioid addiction, so he developed the beverage as a patent medicine in an effort to control his addiction.
In 1889, the formula and brand were sold for $2,300 to Asa Griggs Candler, who incorporated the Coca-Cola Company in Atlanta in 1892. The company has operated a franchised distribution system since 1889. The company largely produces syrup concentrate, which is then sold to various bottlers throughout the world who hold exclusive territories.

History

In July 1886, pharmacist John Stith Pemberton from Columbus, Georgia, invented the original Coca-Cola drink, which was advertised as helpful in the relief of headache, to be placed on sale primarily in drugstores as a medicinal beverage. Pemberton had made many mixing experiments and reached his goal during the month of May, but the new product was as yet unnamed and uncarbonated. Pemberton's bookkeeper, Frank Mason Robinson, is credited with naming the product and creating its logo. Robinson chose the name Coca-Cola because of its two main ingredients and because it is an alliteration. John Pemberton had taken a break and left Robinson to make, promote, and sell Coca-Cola on his own. Robinson promoted the drink with the limited budget that he had and succeeded.
American businessman Asa Griggs Candler purchased the Coca-Cola formula and brand, forming the Coca-Cola Company in Atlanta in 1892. By 1895, Coca-Cola was being sold nationwide. In 1919, the company was sold to Ernest Woodruff's Trust Company of Georgia, after which it was soon reincorporated under the Delaware General Corporation Law that same year.
Coca-Cola's first ad read "Coca Cola. Delicious! Refreshing! Exhilarating! Invigorating!" Candler was one of the first businessmen to use merchandising in his advertising strategy. As of 1948, Coca-Cola had claimed about 60% of its market share. By 1984, the Coca-Cola Company's market share decreased to 21.8% due to new competitors.

Acquisitions

Coca-Cola acquired Minute Maid in 1960 for an undisclosed amount. In 1982, it acquired the movie studio Columbia Pictures for $692 million. Coca-Cola then launched a series of entertainment takeovers, namely Merv Griffin Enterprises and Embassy Communications in the mid-1980s, forming the Entertainment Business Sector, which would later merge with Tri-Star Pictures to start out Columbia Pictures Entertainment, with CPE holding a stake in the company. Coca-Cola sold Columbia to Sony for $3 billion in 1989. In 1986, Coke sold off two assets, namely Presto Products and Winker-Flexible Products to an investment group led by E.O. Gaylord for $38 million.
The company acquired the Indian cola brand Thums Up in 1993, and the American soda company Barq's in 1995. In 1999, Coca-Cola purchased 50% of the shares of Inca Kola for $200 million, subsequently taking control of overseas marketing and production for the brand. In 2001, it acquired the Odwalla brand of fruit juices, smoothies, and bars for $181 million. It announced Odwalla's discontinuation in 2020. In 2007, it acquired Fuze Beverage from founder Lance Collins and Castanea Partners for an estimated $250 million.
The company's 2009 bid to buy Chinese juice maker Huiyuan Juice Group ended when China rejected its $2.4 billion bid, on the grounds the resulting company would be a virtual monopoly. Nationalism was also thought to be a reason for aborting the deal.
In 2011, it acquired the remaining stake in Honest Tea, having bought a 40% stake in 2008 for $43 million. In 2013, it finalized its purchase of ZICO, a coconut water company. In August 2014, it acquired a 16.7% stake in Monster Beverage for $2.15 billion with an option to increase it to 25%, as part of a long-term strategic partnership that includes marketing and distribution alliance, and product line swap. In 2015, the company took a minority stake ownership in the cold pressed juice manufacturer, Suja Life LLC. In December 2016, it bought many of the former SABMiller's Coca-Cola operations. The Coca-Cola Company owns a 68.3% stake in Coca-Cola Bottlers Africa. Coca-Cola Bottlers Africa is headquartered in Port Elizabeth, South Africa.
The Coca-Cola Company acquired a 40% stake in Nigerian snack and beverage company Chi Limited on January 30, 2016. The Coca-Cola Company acquired the remaining 60% stake in Chi Ltd on January 30, 2019. In 2017, the Coca-Cola Company acquired Mexican sparkling water brand Topo Chico. On August 31, 2018, it agreed to acquire Costa Coffee from Whitbread for £3.9bn. The acquisition closed on January 3, 2019. During August 2018, the Coca-Cola Company acquired Moxie for an undisclosed amount. On August 14, 2018, the Coca-Cola Company announced a minority interest in Bodyarmor. On September 19, 2018, the Coca-Cola Company acquired Organic & Raw Trading Co. Pty Ltd, the manufacturer of Mojo Kombucha in Willunga, Australia. In 2022 Coca-Cola shut down production of Mojo.

Revenue and sales

Regionshare
North America38.7%
Europe, Middle East and Africa16.8%
Latin America13.4%
Asia–Pacific11.5%
Unallocated19.4%

According to the Coca-Cola Company's 2005 annual report, it had sold beverage products in more than 200 countries that year. The 2005 report further states that of the approximately 50 billion beverage servings of all types consumed worldwide, daily, beverages bearing the trademarks owned by or licensed to Coca-Cola account for more than 1.3 billion. Of these, beverages bearing the trademark "Coca-Cola" or "Coke" accounted for approximately 55% of the company's total gallon sales.
In 2010, it was announced that Coca-Cola had become the first brand to top £1 billion in annual UK grocery sales. In 2017, Coca-Cola sales were down 11% from the year before due to consumer tastes shifting away from sugary drinks.
YearRevenue
in million US$		Net income
in million US$		Price per Share
in USD		Employees
200017,3542,17714.41
200117,5453,96912.83
200219,3943,05013.32
200320,8574,34712.02
200421,7424,84712.91
200523,1044,87212.18
200624,0885,08012.85
200728,8575,98116.1990,500
200831,9445,80716.5992,400
200930,9906,82415.5692,800
201035,11911,78718.61139,600
201146,5428,58422.59146,200
201248,0179,01925.83150,900
201346,8548,58428.43130,600
201445,9987,09830.15129,200
201544,2947,35131.39123,200
201641,8636,52734.20100,300
201735,4101,24836.0261,800
201834,3006,43438.1462,600
201937,2668,92044.1486,200
202033,0147,74744.7580,300
202138,6559,77150.0879,000
202243,0047,74758.8582,500
202345,75410,71458.8179,100
202447,06110,63169,700

Stock

Since 1919, Coca-Cola has been a publicly traded company. Its stock is listed on the New York Stock Exchange under the ticker symbol "KO". One share of stock purchased in 1919 for $40, with all dividends reinvested, would have been worth $9.8 million in 2012, a 10.7% annual increase adjusted for inflation. A predecessor bank of SunTrust received $100,000 for underwriting Coca-Cola's 1919 public offering; the bank sold that stock for over $2 billion in 2012. In 1987, Coca-Cola once again became one of the 30 stocks which makes up the Dow Jones Industrial Average, which is commonly referenced as a proxy for stock market performance; it had previously been a Dow stock from 1932 to 1935. Coca-Cola has paid a dividend since 1920 and, as of 2019, had increased it each year for 57 years straight.

Shareholders

The 10 largest shareholder of Coca-Cola in March 2025 were:
Shareholder namePercentage
Berkshire Hathaway9.3%
The Vanguard Group8.4%
BlackRock5.6%
State Street Corporation3.8%
JP Morgan Investment Management2.2%
Geode Capital Management2.1%
Fidelity Investments1.9%
Eaton Vance1.9%
Charles Schwab Corporation1.7%
Norges Bank1.3%
Others61.8%