Coca-Cola Bottling Co.

Consolidated

Company Profile
Publication Date: 22 Jun 2010

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Coca-Cola Bottling Co. Consolidated

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TABLE OF CONTENTS

TABLE OF CONTENTS
Company Overview..............................................................................................4 Key Facts...............................................................................................................4 Business Description...........................................................................................5 History...................................................................................................................6 Key Employees.....................................................................................................7 Key Employee Biographies..................................................................................8 Major Products and Services............................................................................15 Top Competitors.................................................................................................17 Company View.....................................................................................................18 Locations and Subsidiaries...............................................................................21

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Company Overview

COMPANY OVERVIEW
Coca-Cola Bottling Co. Consolidated (Coca Cola Bottling) is a manufacturer, seller, and distributor of soft drinks. The company is engaged in the making, selling, and delivering of carbonated and noncarbonated beverages, primarily the products of The Coca-Cola Company. Its product offerings include carbonated soft drinks, bottled water, teas, juices, isotonics, and energy drinks. Coca-Cola Bottling operates in the US and Netherlands. It is headquartered in Charlotte, North Carolina and employs around 5,200 people. The company recorded revenues of $1,443 million in the fiscal year ended December 2009, a decrease of 1.4% over 2008. The company's operating profit was $94.5 million in fiscal 2009, an increase of 58.9% over 2008. Its net profit was $38.1 million in fiscal 2009, as compared to the net profit of $9.1 million in 2008.

KEY FACTS
Head Office Coca-Cola Bottling Co. Consolidated 4100 Coca Cola Plaza Charlotte North Carolina 28211 USA 1 704 557 4000

Phone Fax Web Address

http://www.cokeconsolidated.com

Revenue / turnover 1,442.9 (USD Mn) Financial Year End Employees December 5,200

Nasdaq Global COKE Select Market Ticker

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Business Description

BUSINESS DESCRIPTION
Coca-Cola Bottling Co. Consolidated (Coca-Cola Bottling) is a US-based soft drinks manufacturer, seller, and distributor. The company, together with its owned subsidiaries, produces, markets and distributes nonalcoholic beverages, primarily products of The Coca-Cola Company. Its products include carbonated soft drinks, bottled water, teas, juices, isotonics, and energy drinks. The company's nonalcoholic beverage products are divided into two categories: sparkling beverages and still beverages. The sparkling beverages are beverages with carbonation, including energy drinks. The company's sparkling beverage is Coca-Cola classic. It holds Cola beverage agreements and allied beverage agreements under which it produces, distributes and markets sparkling beverage products of The Coca-Cola Company. The still beverages category includes bottled water, tea, ready-to-drink coffee, enhanced water, juices and sports drinks. The company holds still beverage agreements under which it distributes and markets beverages of The Coca-Cola Company such as POWERade, Minute Maid Adult Refreshments and Minute Maid Juices To Go. Coca-Cola Bottling holds agreements to produce and market Dr Pepper. It also distributes and markets various other products, including Monster Energy products, Cinnabon Premium Coffee Lattes and Sundrop. In addition, the company produces beverages for other Coca-Cola bottlers. Some of the company's subsidiaries include CCBCC, CCBCC Operations, Chesapeake Treatment Company, Coca-Cola Ventures, Consolidated Beverage Co, Consolidated Real Estate Group, BYB Brands, Data Ventures, Heath Oil Co, TXN, Tennessee Soft Drink Production Company, CCBC of Wilmington, Swift Water Logistics, Data Ventures Europe, and Red Classic Brokerage.

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History

HISTORY
Coca-Cola Bottling Co. Consolidated (Coca-Cola Bottling) history dates back to 1902, when J. B. Harrison and J. Frank Harrison began selling Coca-Cola in bottles in Greensboro, North Carolina. The company introduced canned soft drinks in 1950's. Later in 1955, The Coca-Cola Company introduced 10, 12, and 26 ounce king-sized and family-sized bottles. In the 1970s, the company merged with other North Carolina and Virginia bottling companies. In 1972, the company changed its name to Coca-Cola Bottling of the Mid Carolinas and offered stock to the public. Later in 1977, PET plastic bottles were used as a package for Coca-Cola products. The company was incorporated in 1980. In 1982, Coca-Cola Bottling introduced, Diet Coke and in the next year launched caffeine-free versions of Coke, Diet Coke, Cherry Coke and Tab. Coca-Cola Bottling purchased bottler, Wometco in 1985. In the same year, the company introduced 'New' Coke. Coca-Cola Bottling acquired the bottler, Sunbelt Coca-Cola in 1991. The company entered into a joint venture with the Coca-Cola Company to purchase significant selling territories in North and South Carolina in 1994. In 1997, Coca-Cola Bottling introduced Dasani water. The company introduced a new package known as the 'Fridge Pack' in 2001. In 2003, Coca-Cola Bottling acquired the remaining interest in Piedmont Coca-Cola Bottling and increased its interest to 77.3%. Coca-Cola Bottling and Coca-Cola Hellenic Bottling Company jointly acquired Multon, a Russian fruit juice producer, in 2005. In January 2008, James E Harris was appointed as the Senior Vice President and Chief Financial Officer at the company. Coca-Cola Bottling opened its new warehouse and logistics center at the Valley Gateway Industrial Park in Roanoke County in August 2009. The company appointed Alexander B Cummings as a Director in February 2010.

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Key Employees

KEY EMPLOYEES
Name
J Frank Harrison William B Elmore Henry W Flint H W McKay Belk Alexander B Cummings Sharon A Decker Deborah S Harrison James H Morgan John W Murrey Dennis A Wicker Ned R McWherter James E Harris William J Billiard Norman C George Clifford M Deal Umesh M Kasbekar Melvin F Landis Steven D Westphal Lauren C Steele Robert G Chambless

Job Title
Chairman and Chief Executive Officer President and Chief Operating Officer Vice Chairman and secretary Director Director Director Director Director Director Director Director Senior Vice President and Chief Financial Officer

Board
Executive Board Executive Board Executive Board Non Executive Board Non Executive Board Non Executive Board Non Executive Board Non Executive Board Non Executive Board Non Executive Board Non Executive Board Senior Management

Compensation
1533780 USD 865571 USD 643133 USD

539611 USD

Vice President, Controller and Chief Senior Management Accounting Officer President, ByB Brands Vice President and Treasurer Senior Management Senior Management

Senior Vice President, Planning and Senior Management Administration Senior Vice President, Chief Marketing and Customer Officer Executive Vice President, Operations and Systems Vice President, Corporate Affairs Senior Vice President, Sales Senior Management Senior Management Senior Management Senior Management 549438 USD

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Key Employee Biographies

KEY EMPLOYEE BIOGRAPHIES

J Frank Harrison
Board: Executive Board Job Title: Chairman and Chief Executive Officer Since: 1996 Age: 55 Mr. Harrison has been the Chairman at Coca-Cola Bottling Co. Consolidated (Coca-Cola Bottling) since 1996. He has been the Chief Executive Officer at the company since 1994. Previously, Mr. Harrison served as the Vice Chairman of the board of Directors from, 1987 to 1996 at the company. He was first employed at Coca-Cola Bottling in 1977 and served as a Division Sales Manager and as a Vice President.

William B Elmore
Board: Executive Board Job Title: President and Chief Operating Officer Since: 2001 Age: 54 Mr. Elmore has been the President, Chief Operating Officer and a Director at Coca-Cola Bottling since 2001. He served as the Vice President of Value Chain from, 1999 to 2000; Vice President of Business Systems, from 1998 to 1999; Vice President and Treasurer, from 1996 to 1998; and Vice President and Regional Manager for the Virginia, West Virginia and Tennessee Divisions, from 1991 to 1996.

Henry W Flint
Board: Executive Board Job Title: Vice Chairman and secretary Since: 2007 Age: 55 Mr. Flint has been the Vice Chairman at Coca-Cola Bottling since 2007. He has been the Company Secretary at the company since 2000. Mr. Flint served as the Executive Vice President and Assistant to the Chairman, from 2004 to 2007 at the company. Mr. Flint also served as a Co-Managing Partner of the law firm of Kennedy Covington Lobdell & Hickman, from 2000 to 2004, a firm with which he was associated since 1980.

H W McKay Belk

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Key Employee Biographies

Board: Non Executive Board Job Title: Director Since: 1994 Age: 53 Mr. Flint has been a Director at Coca-Cola Bottling since 1994. He has been the President and Chief Merchandising Officer at Belk, Inc., an operator of retail department stores since 2004. Prior to that, Mr. Belk served as the President of Merchandising and Marketing at Belk, Inc. since 1998. He also served as the President and Chief Merchandise Officer at Belk Stores Services, Inc., a provider of services to retail department stores, from 1997 to 1998; and President, Merchandise and Sales Promotion of Belk Stores Services, Inc. from 1995 to 1997. Mr. Belk is also a director of Belk, Inc.

Alexander B Cummings
Board: Non Executive Board Job Title: Director Since: 2010 Age: 53 Mr. Cummings has been a Director at Coca-Cola Bottling since February 2010. He serves as the Executive Vice President and Chief Administrative Officer at The Coca-Cola Company. Mr. Cummings also serves on the Board of Coca-Cola Hellenic Bottling Co., a publicly traded bottler of The Coca-Cola Company. He joined The Coca-Cola Company in 1997 as Deputy Region Manager, Nigeria and in 2000, he was named as the President of the North and West Africa Division. In 2001, Mr. Cummings became the President of the Africa Group, responsible for The Coca-Cola Companys operations in Africa until 2008. He was appointed as the Chief Administrative Officer at The Coca-Cola Company in 2008, and also as the Executive Vice President in 2008. Mr. Cummings serves on the Boards of Africare and Clark Atlanta University, and he served on the Advisory Board of The African Presidential Archives & Research Center, The Corporate Council on Africa, The African-America Institute, and The Center for Global Developments Commission on US Policy toward Low-Income Poorly Performing States.

Sharon A Decker
Board: Non Executive Board Job Title: Director Since: 2001 Age: 53 Ms. Decker has been a Director at Coca-Cola Bottling since 2001. She has been the Chief Executive Officer at The Tapestry Group, a faith based non-profit organization since 2004, and the Chief Executive Officer at North Washington Street Properties, a community redevelopment company since 2004. Ms. Decker also serves as a director of Family Dollar Stores, a discount retailer, and SCANA Corporation, a diversified utility company. Previously, she served as the President at The

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Key Employee Biographies

Tanner Companies, a direct seller of womens apparel, from 2002 to 2004; President at Doncaster, a division of The Tanner Companies, from 1999 to 2002; President and Chief Executive Officer at the Lynnwood Foundation, which created and manages a conference facility and leadership institute, from 1997 to 1999; and served at Duke Energy Corporation in a number of capacities, including as Corporate Vice President and Executive Director of the Duke Power Foundation, from 1980 to 1997.

Deborah S Harrison
Board: Non Executive Board Job Title: Director Since: 2003 Age: 48 Ms. Harrison has been a Director at Coca-Cola Bottling since 2003. She serves as an affiliate broker at Fletcher Bright Company, a real estate brokerage firm located in Chattanooga, Tennessee.

James H Morgan
Board: Non Executive Board Job Title: Director Since: 2008 Age: 62 Mr. Morgan has been a Director at Coca-Cola Bottling since 2008. He has been the President and Chief Executive Officer at Krispy Kreme Doughnuts, since 2008. He also serves as the Chairman at Krispy Kreme Doughnuts. Since 2002, Mr. Morgan has served as Chairman and Chief Investment Officer at Covenant Capital (formerly Morgan Semones Associates, LLC), an investment management firm, which is the General Partner of The Morgan Crossroads Fund. Previously, he served as a consultant at Wachovia Securities, a securities and investment banking firm, from 2000 to 2001. In 1999, Mr. Morgan was Chairman and Chief Executive Officer at Wachovia Securities. He was employed at Interstate/Johnson Lane, an investment banking and brokerage firm, from 1990 to 1999 in various capacities, including as the Chairman and Chief Executive Officer.

John W Murrey
Board: Non Executive Board Job Title: Director Since: 1993 Age: 67 Mr. Murrey has been a Director at Coca-Cola Bottling since 1993. He has been an Assistant Professor at Appalachian School of Law in Grundy, Virginia since 2003. Mr. Murrey also serves as a a Director at The Dixie Group, a carpet manufacturer. Mr. Murrey was of counsel to the law firm of Shumacker Witt Gaither & Whitaker, in Chattanooga, Tennessee until 2002, a firm with which he was associated

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Key Employee Biographies

since 1970. Mr. Murrey served as a Director at US XPress Enterprises, a trucking company, from 2003 to 2007.

Dennis A Wicker
Board: Non Executive Board Job Title: Director Since: 2001 Age: 57 Mr. Wicker has been a Director at Coca-Cola Bottling since 2001. He has been a partner in the law firm of Nelson, Mullins, Riley & Scarborough LLP in its Raleigh, North Carolina office since November 2009. Mr. Wicker also serves as a Director at First Bancorp, a bank holding company, and Air T, Inc., an air transportation services company. From 2008 to 2009, Mr. Wicker was a partner in the law firm of SZD Wicker, LPA. From 2001 until 2008, he was a partner in the Raleigh, North Carolina office of the law firm of Helms Mulliss & Wicker, PLLC. He served as Lt. Governor of the State of North Carolina, from 1993 to 2001. Mr. Wicker served as the Chairman of the State Board of Community Colleges and as Chairman of North Carolinas Technology Council.

Ned R McWherter
Board: Non Executive Board Job Title: Director Since: 1995 Age: 79 Mr. McWherter has been a Director at Coca-Cola Bottling since 1995. He served as the 46th Governor of the State of Tennessee from January 1987 to January 1995. Mr. McWherter was a member of the Tennessee House of Representatives from 1969 to 1987, serving as Speaker for fourteen of those years. He is the Chairman of the Board of Volunteer Distributing Company, Inc., Eagle Distributors, Inc. and Chairman Emeritus of The Weakley County Bank, Dresden, Tennessee. He serves on the Board of Trustees of Lambuth University, Jackson, Tennessee; The University of Tennessee Foundation, Knoxville, Tennessee; and The Baker Center for Public Policy, The University of Tennessee at Knoxville. He is a former director of Piedmont Natural Gas Company, Inc., Charlotte, North Carolina; The Centennial Medical Center, Nashville, Tennessee; SunTrust Banks, Inc., Nashville, Tennessee; First State Bank, Union City, Tennessee; and Volunteer Express, Inc., Nashville, Tennessee. He is also a former member of The United States Postal Service Board of Governors, Washington, D.C., and was a Commissioner of The American Battle Monuments Commission, Arlington, Virginia.

James E Harris
Board: Senior Management Job Title: Senior Vice President and Chief Financial Officer

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Key Employee Biographies

Since: 2008 Age: 47 Mr. Harris has been the Senior Vice President and Chief Financial Officer at Coca-Cola Bottling since 2008. He served as a Director of the company, from 2003 to 2008 and was a member of the Audit Committee and the Finance Committee. Mr. Harris also served as the Executive Vice President and Chief Financial Officer at MedCath Corporation, an operator of cardiovascular hospitals, from 1999 to 2008. From 1998 to 1999, he served as the Chief Financial Officer at Fresh Foods, Inc., a manufacturer of fully cooked food products. From 1987 to 1998, Mr. Harris served in several different officer positions at The Shelton Companies, Inc. He also served for two years at Ernst & Young LLP as a senior accountant.

William J Billiard
Board: Senior Management Job Title: Vice President, Controller and Chief Accounting Officer Since: 2006 Age: 43 Mr. Billiard has been the Vice President, Controller and Chief Accounting Officer at Coca-Cola Bottling since 2006. Before joining the company, he served as the Senior Vice President, Interim Chief Financial Officer and Corporate Controller at Portrait Corporation of America, a portrait photography studio company, from 2005 to 2006. Prior to that, he served as the Vice President, Chief Financial Officer at Tailored Management, a long-term staffing company, from 2000 to 2001.

Norman C George
Board: Senior Management Job Title: President, ByB Brands Since: 2006 Age: 54 Mr. George has been the President at BYB Brands, Inc, a wholly-owned subsidiary of Coca-Cola Bottling that distributes and markets Cinnabon Premium Coffee Lattes, Tum-E Yummies and other products developed by the company since 2006. Prior to that, he served as the Senior Vice President, Chief Marketing and Customer Officer since 2001. Prior to that, Mr. George served as the Vice President of Marketing and National Sales, a position he was appointed to in 1999. Prior to that, he served as the Vice President of Corporate Sales in 1998. Previously, he served as the Vice President of Sales for the Carolinas South Region in 1991.

Clifford M Deal
Board: Senior Management Job Title: Vice President and Treasurer

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Key Employee Biographies

Since: 1999 Age: 48 Mr. Deal has been the Vice President and Treasurer at Coca-Cola Bottling since 1999. Previously, he served as a Director at Compensation and Benefits from 1997 to 1999. Mr. Deal served as the Corporate Benefits Manager from 1995 to 1997 and Manager of Tax Accounting from 1993 to 1995.

Umesh M Kasbekar
Board: Senior Management Job Title: Senior Vice President, Planning and Administration Since: 1995 Age: 52 Mr. Kasbekar has been the Senior Vice President of Planning and Administration at Coca-Cola Bottling since 1995. Prior to that, he was Vice President, Planning, a position he was appointed to in 1988.

Melvin F Landis
Board: Senior Management Job Title: Senior Vice President, Chief Marketing and Customer Officer Since: 2006 Age: 44 Mr. Landis has been the Senior Vice President, Chief Marketing and Customer Officer at Coca-Cola Bottling since 2006. Prior to that, he served as the Vice President of Marketing and Corporate Customers in 2006 and Vice President, Customer Management, from 2004 to 2006. Prior to joining the company in 2004, Mr. Landis was employed at The Clorox Company, a manufacturer and marketer of consumer products, from 1994. While at The Clorox Company, he held a number of positions, including Region Sales Manager, Sales Merchandising Manager, Kingsford Charcoal, Director of Corporate Trade and Category Management, Team Leader WalMart/Sams and Senior Director, US Grocery Sales.

Steven D Westphal
Board: Senior Management Job Title: Executive Vice President, Operations and Systems Since: 2007 Age: 55 Mr. Westphal has been the Executive Vice President of Operations and Systems at Coca-Cola Bottling since 2007. He served as the Chief Financial Officer, from 2005 to 2008 and prior to that as the Vice President and Controller in 1987 at the company.

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Key Employee Biographies

Lauren C Steele
Board: Senior Management Job Title: Vice President, Corporate Affairs Since: 1989 Age: 55 Mr. Steele has been the Vice President of Corporate Affairs at Coca-Cola Bottling since 1989. He is responsible for governmental, media and community relations for the Company.

Robert G Chambless
Board: Senior Management Job Title: Senior Vice President, Sales Since: 2008 Age: 44 Mr. Chambless has been the Senior Vice President of Sales at Coca-Cola Bottling since 2008. Previously, he served as the Vice President of Franchise Sales, from 2003 to 2008 and Region Sales Manager for Southern Division, from 2000 to 2003 at the company. Mr. Chambless served as the Sales Manager in the Companys Columbia, South Carolina branch, from 1997 to 2000. He also served at the company in several other positions and was first employed by the company in 1986.

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Major Products and Services

MAJOR PRODUCTS AND SERVICES

Coca-Cola Bottling is a US based-company that produces, markets and distributes beverages, primarily the products of the Coca-Cola Company. The companys key products and brands include the following: Products: Sparkling beverages: Energy drinks Still beverages: Bottled water Tea Ready-to-drink coffee Enhanced water Juices Sports drinks Brands: Sparkling beverages: Coca-Cola classic Diet Coke Coca-Cola Zero Sprite Fanta Flavors Sprite Zero Mello Yello Vault Coke Cherry Seagrams Ginger Ale Coke Zero Cherry Diet Coke Plus Diet Coke Splenda Vault Zero Fresca Pibb Xtra Barqs Root Beer Tab Full Throttle

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Major Products and Services

NOS Still beverages: smartwater vitaminwater vitaminenergy Dasani Dasani Flavors Dasani Plus POWERade Minute Maid Adult Refreshments Minute Maid Juices To Go Nestea Gold Peak tea FUZE V8 juice

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Top Competitors

TOP COMPETITORS

The following companies are the major competitors of Coca-Cola Bottling Co. Consolidated

Pepsi Bottling Group, Inc., The Cott Corporation National Beverage Corp. Coca-Cola Enterprises, Inc. Dr Pepper Snapple Group, Inc Royal Crown Cola

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Company View

COMPANY VIEW
A joint statement by J Frank Harrison, Chairman and Chief Executive Officer; and William B Elmore, President and Chief Operating Officer at Coca-Cola Bottling Co. Consolidated is given below. The statement has been taken from the company's 2009 annual report. During 2009, Coca-Cola Consolidated embarked on many new and exciting strategic, operational and tactical initiatives. Despite a very difficult economy that resulted in high unemployment in our franchise territories and significantly impacted many of our customers and consumers, Coca-Cola Consolidated was resilient, innovative and focused on continuous operational improvement. This led to your Company posting solid financial results for the year. As the second largest Coca-Cola franchisee in North America, and ambassadors of the greatest brands in the world, Coca-Cola Consolidated has long been known as an innovator, focused on continuous improvement and reinvention of our core beverage business, while challenging ourselves to leverage additional business opportunities in the marketplace. Progres in a Challenging Year Going into 2009, we were faced with numerous challenges including a difficult economy, volatile input pricing for key raw materials and uncertain credit markets. Even with these challenges, the Company produced solid results. In 2009, the Company reported net income of $38.1 million, or basic net income per share of $4.16, compared to net income of $9.1 million, or basic net income per share of $0.99, in 2008. Comparability of earnings between 2009 and 2008 was impacted by several unusual items. Our 2009 results include non-cash gains on our hedging programs of $8.0 million net of tax, or $0.88 per share; favorable adjustments to income tax expense of $7.1 million or $0.77 per share; and $1.1 million net of tax, or $0.12 per share, of additional income from the 53rd week of 2009. The 2008 results included expenses for exiting a multiemployer pension plan ($7.3 million after-tax or $0.80 per share), and for a Company restructuring ($2.4 million after-tax or $0.26 per share), plus non-cash losses on our hedging programs ($0.4 million after-tax or $0.04 per share). Excluding these unusual items, net income and basic net income per share for 2009 were $21.9 million and $2.39 compared to $19.2 million and $2.09 for 2008, respectively. Working with our partner The Coca-Cola Company, we responded to the challenging environment with new products and packaging, improved marketing and innovative sales promotions. These tactics offset slow or declining sales in certain segments of the sparkling beverage business, while increasing market share in the still beverage segment. To reverse multiyear declining sales trends in the convenience channel, we replaced all 20-ounce sparkling beverages with a combination of a value-priced 16-ounce bottle and a larger 24-ounce package. This strategy has produced a significant increase in consumer transactions, resulting not only in growing our brands and gaining share, but also expanding the entire category for our customers. Notably, we are seeing strong growth in our core sparkling brands in the convenience channel, along with strong consumer trial and recruitment

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Company View

among certain targeted demographic groups. We also introduced a new contour 2-liter bottle in 2009, and we are receiving positive consumer reaction to this take-home package with an iconic Coca-Cola bottle shape. Additionally, the Company significantly expanded the sale and distribution of its proprietary vitamin-enhanced fruit drink, Tum-E Yummies, which will have distribution throughout the United States in 2010. During 2008, we implemented a full review of all expenditures and core business processes with a goal of realizing operating efficiencies and cost savings. We examined every aspect of our business in order to direct spending and resources to the most essential and effective elements. Our focus on efficient operations continued in 2009, and it is integral to ongoing improvements that ensure we concentrate our resources on activities that drive profitable growth. Part of this process includes leveraging expertise and effectively utilizing Company assets. For example, we have seen a significant increase in the loads our delivery fleet carries for outside parties through our transportation group, Red Classic Transportation Services. These additional loads reduce empty backhauls and provide revenue that offsets part of our freight costs. An ongoing challenge for our Company is finding ways to improve our supply chain and more efficiently produce and deliver our products. During the past few years, we have made significant capital investments in technologies and systems to handle the complexities of the growing number of brands and package sizes we sell. We installed an automated order-fulfillment system in our Charlotte, N.C., manufacturing center that became fully operational in 2009. This system allows us to build custom orders more efficiently and with a high degree of accuracy. We also developed a multiyear strategy that includes new and automated selling tools. During 2009, we provided our account managers with advanced handheld devices that allow wireless order submittal and permit real-time communication to resolve customer needs. These new tools not only ensure accuracy, but enable our sales force to spend their time and energy on selling and customer service. We continued to partner with The Coca-Cola Company to develop and implement grassroots marketing strategies that enable us to speak directly to our consumers in personal and meaningful ways. One of the most successful initiatives is a recycling incentive program, Coca-Cola Recycle and Win, which not only promotes environmental stewardship, but is very popular with our consumers. We launched Coca-Cola Recycle and Win in Charlotte and Raleigh, N.C., in 2009, and we will expand this and other similar programs to other markets in 2010. We also continued to improve our financial position by reducing long-term debt. Our focus on improving our balance sheet has resulted in a reduction of long-term debt of almost $500 million in the last decade, providing more financial flexibility for the Company. Looking Forward As we enter 2010, the beverage industry is still affected by the overall economic conditions and volatility in commodities markets. While fuel and commodity prices have retreated from record peaks, they remain at high levels. In 2010, we will continue our packaging innovation with the introduction of the 7.5-ounce, 90-calorie sleek can, and we will test additional large bottle configurations. During the past two years, we have focused heavily on reducing costs and driving efficiency in our business

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Company View

and have achieved great success in this area. With this discipline firmly in place, the Company will shift more of its focus to growing our gross margin, and we believe we are well-positioned to capitalize on economic improvement in 2010. Our Purpose As we begin a new year, we continue to build upon our excellent service model and embark on a new, broad and substantive corporate Purpose Statement. Our new Purpose Statement focuses on the Companys long history of service to its employees, customers, consumers and communities, as well as its pursuit of excellence in every aspect of our business. We believe service to others is the foundation of great leaders, and that the development of a servant leadership culture will empower employees throughout the Company to better serve, and therefore lead, in their communities and with our customers and consumers. We also believe great servant leaders bring a focus on excellence and winning to work every day, thus positively and proactively impacting our work environments. Thank You We are extremely fortunate to be stewards of the greatest brand in the world, Coca-Cola, and an entire portfolio of powerful, appealing brands. As stewards of these brands, we see the making of memories and the happiness our consumers feel when they open a bottle of Coca-Cola. Our Company is committed to leading in both our business and in our communities. We would like to thank all who make our continued success possible, including our consumers, our customers, our dedicated employees and our partner The Coca-Cola Company. While 2009 was a very challenging year, we are proud of what Coca-Cola Consolidated employees accomplished in the face of very real adversity. Their efforts were recognized by both colleagues and competitors in our industry. The respected trade publication Beverage Industry named Coca-Cola Consolidated Bottler of the Year for 2009. While we recognize that 2010 will be a challenging year, we are very confident in our long-term success.

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Locations and Subsidiaries

LOCATIONS AND SUBSIDIARIES

Head Office
Coca-Cola Bottling Co. Consolidated 4100 Coca Cola Plaza Charlotte North Carolina 28211 USA P:1 704 557 4000 http://www.cokeconsolidated.com

Other Locations and Subsidiaries

CCBCC, Inc. Delaware USA Coca-Cola Ventures, Inc. Delaware USA Consolidated Real Estate Group, LLC North Carolina USA Heath Oil Co., Inc. South Carolina USA Tennessee Soft Drink Production Company Tennessee USA Chesapeake Treatment Company, LLC North Carolina USA Consolidated Beverage Co. Delaware USA BYB Brands, Inc. North Carolina USA TXN, Inc. Delaware USA CCBC of Wilmington, Inc. North Carolina Delaware USA Data Ventures Europe BV NLD

Swift Water Logistics, Inc. North Carolina USA

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