NEW YORK – Coca-Cola Co. may buy the North American operations of its biggest bottler, a deal that echoes a move by rival PepsiCo in response to falling soft-drinks sales, The Wall Street Journal reported Wednesday.
If the partial acquisition of Coca-Cola Enterprises Inc. goes through, the rest of the bottler would remain independent and buy Coke bottling operations in Scandinavia and Germany, the newspaper reported. It already has operations in several European countries.
The exact value of the deal was uncertain but it is expected to be valued at more than $15 billion including equity and assumed debt, the newspaper said, citing people familiar with the matter.
Shares of Coca-Cola Enterprises shot up in aftermarket trading Wednesday, gaining $5.48, or 29 percent, to $24.61.
The beverage industry has watched soda sales fall, prompting the big beverage makers to seek greater control over costs and how their drinks are distributed.