(By Balachander) Beverage giant Coca-Cola Co. (NYSE: KO) has acquired Sacramento Coca-Cola Bottling Co. for an undisclosed amount.
Sacramento Coca-Cola, founded in 1927, is the sixth-largest independent Coca-Cola bottler in the United States.
The sale approximates nine times earnings before interest, taxes, depreciation and amortization (EBITDA), the companies noted.
Sacramento Coca-Cola currently distributes Coca-Cola products in all or part of the nine California Counties of Sacramento, Yolo, Solano, Placer, El Dorado, Amador, Stanislaus, Sutter and Tuolumne.
In 1927, Nathan Sellers acquired the rights to sell Coca-Cola in most of Northern California, north of San Francisco.
Sacramento Coca-Cola Bottling employs 467 people in its three Central Valley facilities.
Coca-Cola's portfolio features 15 billion-dollar brands including Diet Coke, Fanta, Sprite, Coca-Cola Zero, vitaminwater, Powerade, Minute Maid, Simply, Georgia and Del Valle.
KO shares traded 2.87 percent higher at $37.29 on Wednesday.