Coca-Cola Consolidated has completed a $2.4 billion share repurchase from a subsidiary of the Coca-Cola Company, marking a significant shift in the structure of the US bottling network.
The deal, finalised on 7 November 2025, saw the bottler acquire 18.8 million shares from Carolina Coca-Cola Bottling Investments, an indirect subsidiary of the Coca-Cola Company. Each share was valued at $127. The transaction was financed through a combination of internal funds and a $1.2 billion short-term loan arranged by Wells Fargo.
With the purchase complete, Coca-Cola Consolidated becomes fully independent, as the Coca-Cola Company has also vacated its seat on the bottler’s board of directors.
The company has since scaled down its existing share repurchase programme from $1 billion to $400 million, leaving approximately $136 million available for future buybacks.
The move reflects a broader trend among major bottlers to consolidate ownership and streamline governance structures, while both companies continue to collaborate on beverage production and distribution across more than 60 million US consumers.