Summary by Futu AI
Coca-Cola Consolidated has completed its previously announced share purchase from Carolina Coca-Cola Bottling Investments, Inc. (CCCBI), an indirect wholly-owned subsidiary of The Coca-Cola Company. The transaction was executed on July 5, 2024, following the purchase agreement dated May 6, 2024.The company acquired 598,619 shares of its Common Stock at $925 per share, resulting in a total purchase price of approximately $553.7 million. The transaction represents a significant stock buyback from CCCBI, demonstrating the company's commitment to strategic capital allocation.