Coca-Cola Enterprises to Buy 2 Bottlers

Coca-Cola Enterprises Inc. agreed to buy two bottlers from Coca-Cola Co. and other investors for $1.66 billion in cash and assumed debt, which would make it the biggest distributor of Coke’s soft drinks in the Northeast and Canada. The purchases would give Coke Enterprises, the world’s largest bottler, 95% of the soft drink maker’s Canadian market and the fourth-largest U.S. Coke bottler. Coca-Cola owns 44% of Coke Enterprises and about half the Canadian and New York bottlers. Coke Enterprises has been the biggest beneficiary of Coca-Cola’s drive to sell its stakes in smaller distributors, which it had purchased and overhauled, to its largest bottlers. Both are based in Atlanta. Shares in Coke Enterprises fell 12.5 cents to close at $19.625. Coca-Cola’s shares rose 37.5 cents to close at $68.50. Shares of Coca-Cola Beverages Ltd. rose 76.4 cents to close at $14.44.