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MarketScreener Homepage  >  Equities  >  Nyse  >  Coca-Cola Company (The)    KO

COCA-COLA COMPANY (THE) (KO)
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Coca Cola : closing Farmington sales center

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01/11/2019 | 11:30am EST

Jan. 10--FARMINGTON -- Coca-Cola of Northern New England is closing its Farmington sales office. The 12 employees there will be offered other positions within the company, a spokesman said Thursday.

Nick Martin said the decision was "part of an ongoing effort to optimize Coca-Cola of Northern New England's network of facilities throughout the Northeast."

The closure is effective Feb. 22.

"We have offered all of Farmington's associates opportunities at our Bangor and South Portland facilities, where Farmington's operations will be relocated," Martin said. "Regardless of whether they find new positions within the company, we will offer our support during this challenging time.

"We thank the Farmington team for their service and for developing a loyal base of customers in the market," he added. "We are fortunate to serve so many valuable customers in Maine, and we're committed to maintaining the excellent service that they have come to expect."

The closure marks the end of a nearly 100-year era.

According to Sun Journal archives, Cassius Clark of Farmington founded the Farmington Coca-Cola Bottling & Distribution Co. in 1922 and it stayed in the family for several generations.

The independent franchise was sold to Coca-Cola Co. in 2014.

___

(c)2019 Sun Journal (Lewiston, Maine)

Visit the Sun Journal (Lewiston, Maine) at www.sunjournal.com

Distributed by Tribune Content Agency, LLC.

© Tribune Content Agency, source Regional News

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Financials ($)
Sales 2018 31 869 M
EBIT 2018 11 099 M
Net income 2018 8 317 M
Debt 2018 30 508 M
Yield 2018 3,30%
P/E ratio 2018 25,37
P/E ratio 2019 21,14
EV / Sales 2018 7,24x
EV / Sales 2019 7,02x
Capitalization 200 B
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Number of Analysts 24
Average target price 51,9 $
Spread / Average Target 10%
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Managers
NameTitle
James Quincey Chief Executive Officer & Director
Brian John S. Smith President & Chief Operating Officer
Ahmet Muhtar Kent Chairman
Kathy N. Waller Chief Financial Officer & Executive Vice President
Nancy W. Quan Chief Technology Officer & Senior Vice President
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