Local Coca-Cola bottler sold to Chicago firm

Posted on: Sat, 03 Jan 2009 08:42:00 EST


Symbols: COKE
SANFORD, Jan 03, 2009 (Sanford Herald - McClatchy-Tribune Information Services via COMTEX) --
COKE | Quote | Chart | News | PowerRating -- A Chicago-based private equity firm has purchased the Sanford Coca-Cola Bottling Co. Inc., one of Lee County's oldest businesses, the companies announced Friday.

Arbor Investments, which specializes in food, beverage and related industries, acquired the bottling company for an undisclosed amount from the Ingram family.

The Ingram family has owned the company since it was founded by J.R. Ingram Sr. more than 100 years ago.

"We are honored to carry on the tradition that the Ingram family built at this fine company over the last 100 years," said Arbor Investments CEO Gregory J. Purcell. "We are looking forward to serving the Sanford community and having the opportunity to market the No. 1 soft drink brand in the world."

The family also sold a majority stake in Triangle Vending Service, a division of the bottling company since 1987, to Clarence Barnette of First Choice Food Service in Wilson.

Triangle Vending delivers fresh-made sandwiches and snacks to Lee, Chatham and Harnett counties, along with pastries, juices and Coke soft drink products.

Neither acquisition is expected to result in layoffs. Triangle Vending will continue to repair and provide service to Sanford Coca-Cola Bottling Co. vending machines, according to a statement from First Choice Food Service.

Charles Ingram, president of the bottling company, will retire from day-to-day duties and be replaced by John Adams, who serves as president of Montross, Va.-based Northern Neck Coca-Cola Bottling Co., according to a statement from Arbor Investments.

Charles Ingram was unavailable for comment Friday.

In September he told The Herald that distribution was the biggest challenge facing the bottling industry, as rising costs pressure companies to find ways to operate more efficiently.

"Everything we've been able to do here is because of the outstanding people we have working at Sanford Coca-Cola," Charles Ingram said at the time. "We want to make sure we recognize all of them. Our future is in good hands."

The company began rolling out bottles more than 100 years ago at its first plant on Charlotte Avenue. Founder J.R. Ingram Sr. and his three employees used a one-horse wagon to cart the drinks, dropping off boxes of Coke bottles to local merchants.

J.R. Ingram's horses also pulled the fire wagon, so sales sometimes ended suddenly when the siren sounded and he had to rush to the firehouse to hook his horse to the fire wagon.

The Ingram family also has had a visible presence in the Sanford community -- J.R. Ingram Elementary School is named after the company's founder.

"They've been a great contributor to the community," said Bob Heuts, director of Lee County's Economic Development Corp. "I certainly hope (Arbor Investments) will stay as involved as the Ingram family has."

Heuts said the changes reflect the uncertainty facing many industries now as the U.S. economy continues to struggle.

"It seems to be a climate for a lot of change right now," Heuts said. "We won't know next year what these companies will look like. You just don't know with everything going on in the world."

To see more of The Sanford Herald or to subscribe to the newspaper, go to
http://www.sanfordherald.com Copyright (c) 2009, Sanford Herald, N.C.
Distributed by McClatchy-Tribune Information Services. For reprints, email
tmsreprints@permissionsgroup.com, call 800-374-7985 or 847-635-6550, send a fax
to 847-635-6968, or write to The Permissions Group Inc., 1247 Milwaukee Ave.,
Suite 303, Glenview, IL 60025, USA.

For full details on Coca Cola Bottling Con (COKE) COKE. Coca Cola Bottling Con (COKE) has Short Term PowerRatings at TradingMarkets. Details on Coca Cola Bottling Con (COKE) Short Term PowerRatings is available at This Link.

UPCOMING EVENTS
Learn new strategies, how to trade in this market, and the stocks you should be focusing on each day. Join us for our free 20 minute tele-seminars during the week.
Thursday February 11 04:30 PM
* Attendance is strictly limited and are filled on a first-come, first-served basis.