When it comes to major acquisitions within the beverage industry, one intriguing case that stands out is Coca-Cola’s purchase of Barq’s. For enthusiasts of both companies or those simply interested in the business world, a common question arises: How much did Coca-Cola actually pay to acquire Barq’s? Let’s delve into the details to uncover the answer.
A Brief History of Barq’s and Coca-Cola
Before we dive into the specifics of the acquisition, let’s provide a quick overview of Barq’s and Coca-Cola. Barq’s, a well-known root beer brand, has a longstanding history dating back to the early 20th century. On the other hand, Coca-Cola, a global leader in the beverage industry, needs no introduction.
The Intriguing Merger and Sale
The story of Barq’s acquisition by Coca-Cola involves an interesting series of events. It is worth mentioning that prior to the sale to Coca-Cola, Barq’s had already undergone a merger with a Mississippi company. However, a crucial detail surfaces regarding the final sale price of Barq’s to Coca-Cola.
A Critical Figure in the Acquisition
A key player in the Barq’s acquisition saga is Edward Charles Edmond Barq, Sr., commonly known as Edward Barq. Edward Barq had a significant interest in the Louisiana Barq’s company, which eventually merged with the Mississippi company prior to being bought by Coca-Cola.
The Implications of Edward Barq’s Decision
The plot thickens as it is revealed that Edward Barq’s involvement made the entire contract null and void. This means that he retained his interest in the company during the merger and sale proceedings. Tragically, Edward Barq passed away in 1996, leaving behind three children who succeeded him.
Revealing the Price Tag
Now, let’s get to the heart of the matter: the price Coca-Cola paid to acquire Barq’s. According to available records, Coca-Cola purchased Barq’s in 1995 for a staggering $91 million. This substantial sum showcases the value and potential that Coca-Cola saw in the brand, recognizing it as a desirable addition to their portfolio.
Conclusion
The acquisition of Barq’s by Coca-Cola unveils a captivating story of mergers, legalities, and a significant transaction. With Edward Barq’s intricate involvement prior to the sale, the contract’s nullification added an interesting twist to the proceedings. However, Coca-Cola ended up acquiring Barq’s for a notable price of $91 million, highlighting the brand’s appeal and Coca-Cola’s strategic vision.
