The Coca-Cola Company is one of the world’s largest nonalcoholic beverage businesses. Incorporated on September 5, 1919, it owns or licenses more than 500 brands sold in over 200 countries. Its core portfolio spans sparkling soft drinks, water, juice, tea, coffee, and energy drinks. The company operates through a franchise model, partnering with independent bottlers to manufacture and distribute its products. Coca-Cola employs roughly 82,500 people globally and generated $47.06 billion in revenue in 2024. Few consumer brands match its reach or name recognition.
Key Stats
Coca-Cola History
Coca-Cola’s story starts in Atlanta, Georgia, where a pharmacist mixed a syrup that would eventually become the world’s best-known soft drink. The company passed through several hands in its early years before finding the leadership that built it into a global operation.
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1886Formula Created Dr. John Stith Pemberton, an Atlanta pharmacist, develops the original Coca-Cola syrup on May 8. The drink sells for five cents a glass at Jacob’s Pharmacy.
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1888Candler Takes Control Asa Griggs Candler acquires full ownership of the Coca-Cola formula and name for approximately $2,300 after Pemberton’s death in August 1888.
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1892Company Incorporated Candler formally incorporates The Coca-Cola Company in Georgia, establishing the corporate entity that still exists today.
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1899Bottling Franchise Launched Candler grants the first bottling rights to two Chattanooga lawyers, Benjamin Thomas and Joseph Whitehead, for just one dollar, establishing Coca-Cola’s franchise bottling model.
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1919NYSE Listing Ernest Woodruff and a group of investors purchase the company for $25 million. Coca-Cola is incorporated in Delaware on September 5 and lists on the New York Stock Exchange.
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1928Olympic Partnership Begins Coca-Cola becomes an official sponsor of the Amsterdam Olympic Games, beginning one of the longest-running sponsorships in sports history.
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1960Minute Maid Acquired Coca-Cola acquires the Minute Maid Corporation, its first major move into non-carbonated beverages. The same decade sees the US launch of Sprite and Fanta.
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1982Diet Coke Launched Diet Coke hits shelves — the first extension of the Coca-Cola trademark to a new product. It becomes the world’s top-selling diet soft drink within two years.
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1985“New Coke” and the Classic Comeback The company replaces the original formula with “New Coke” in April. Consumer backlash is swift and intense. Coca-Cola Classic returns to shelves just 79 days later.
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2007Glacéau Acquired Coca-Cola purchases Glacéau — maker of vitaminwater and smartwater — for $4.1 billion, accelerating its push into the premium water and enhanced beverage market.
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2019Costa Coffee Acquisition Coca-Cola completes its $5.1 billion purchase of Costa Coffee from Whitbread, entering the global coffee market with roughly 4,000 coffee shops and a retail presence in 30+ countries.
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2021BodyArmor Deal Coca-Cola acquires the remaining stake in sports drink brand BodyArmor for $5.6 billion, valuing it as one of the largest deals in sports beverage history.
Coca-Cola Co-founders
Dr. John Stith Pemberton (1831–1888)
An Atlanta pharmacist and Civil War veteran, Pemberton created the original Coca-Cola syrup in 1886. He sold portions of the business before his death in August 1888, never witnessing the scale his formula would eventually reach.
Asa Griggs Candler (1851–1929)
Candler bought full rights to the Coca-Cola formula in 1888 and incorporated The Coca-Cola Company in 1892. His aggressive marketing and distribution strategies turned a pharmacy novelty into a national brand before he sold the company in 1919 for $25 million.
Coca-Cola Competitors
Coca-Cola competes across multiple beverage categories — carbonated soft drinks, water, juice, energy drinks, and coffee. Its most direct rival is PepsiCo, which has challenged it for decades in what the industry calls the “Cola Wars.” The competitive field has expanded significantly as energy and ready-to-drink categories have grown.
| # | Company | Country | Primary Category |
|---|---|---|---|
| 1 | PepsiCo | USA | Beverages & Snacks |
| 2 | Keurig Dr Pepper | USA | Carbonated Soft Drinks |
| 3 | Nestlé | Switzerland | Water & Beverages |
| 4 | Red Bull | Austria | Energy Drinks |
| 5 | Monster Beverage | USA | Energy Drinks |
| 6 | Danone | France | Water & Dairy Beverages |
| 7 | Suntory | Japan | Soft Drinks & Beer |
| 8 | Fever-Tree | UK | Premium Mixers |
| 9 | National Beverage Corp | USA | Sparkling Water |
| 10 | Jones Soda | USA | Craft Carbonated Drinks |
Coca-Cola Revenue
Coca-Cola’s revenue fell sharply between 2016 and 2018 as the company refranchised its bottling operations globally, shifting from a capital-heavy model to a concentrate-led one. Revenue recovered from 2019 onwards, and 2024 marked a new decade-high of $47.06 billion.
Coca-Cola Market Cap
Coca-Cola’s market cap has grown steadily since 2018. As of early 2026, it stands at approximately $334 billion, ranking it among the 40 most valuable public companies in the world. The company’s consistent dividend history and defensive earnings profile attract long-term investors.
Coca-Cola Acquisitions
Coca-Cola has used acquisitions to diversify well beyond carbonated soft drinks. The company’s earliest significant deal came in 1960 when it bought Minute Maid for around $7.4 million, giving it a foothold in the orange juice category. That acquisition proved transformative — Minute Maid remains one of the top juice brands globally.
The early 2000s saw Coca-Cola pay $181 million for Odwalla, a California-based maker of cold-pressed juices and smoothies. The deal made strategic sense at the time, though the company ultimately shut the brand down in 2020 due to weak sales.
The bigger play came in 2007 with the $4.1 billion purchase of Glacéau, the company behind vitaminwater and smartwater. That deal reshaped Coca-Cola’s non-carbonated portfolio and gave it a competitive position in the premium water segment, which has grown steadily ever since.
In 2015, Coca-Cola acquired a 17% equity stake in Monster Beverage Corporation for $2.15 billion, a deal structured as a partnership rather than a full buyout. Monster handles its own distribution through Coca-Cola’s bottling network, giving both companies commercial benefits without a full merger.
The 2019 acquisition of Costa Coffee for $5.1 billion was Coca-Cola’s most ambitious category expansion. Costa gave it thousands of retail coffee shops across Europe and Asia, along with a ready-to-drink coffee business. Then in 2020, Coca-Cola took full ownership of Fairlife, a filtrated milk and protein shake brand, for $980 million — building on a 2012 joint venture.
The most recent major deal was the full acquisition of BodyArmor in 2021 for $5.6 billion. The sports drink brand had already been growing rapidly before the deal, and the purchase gave Coca-Cola a serious challenger to PepsiCo’s Gatorade in the hydration market.
FAQs
Who founded Coca-Cola?
Dr. John Stith Pemberton created the original Coca-Cola formula in 1886. Asa Griggs Candler later acquired the rights, incorporated the company in 1892, and built it into a national brand.
When was the Coca-Cola Company incorporated?
Asa Candler incorporated The Coca-Cola Company in Georgia in 1892. The current corporation was incorporated in Delaware on September 5, 1919, when it was sold to Ernest Woodruff’s investment group.
What is Coca-Cola’s annual revenue?
Coca-Cola reported $47.06 billion in net revenue for 2024, up from $45.75 billion in 2023. The company’s revenue dipped between 2016 and 2018 due to the refranchising of its bottling operations.
How many brands does Coca-Cola own?
Coca-Cola owns or licenses more than 500 nonalcoholic beverage brands. These span sparkling drinks, water, juice, tea, coffee, and energy beverages, sold across more than 200 countries.
Who are Coca-Cola’s biggest competitors?
Coca-Cola’s main competitors are PepsiCo and Keurig Dr Pepper in carbonated soft drinks. In adjacent categories, it competes with Red Bull and Monster Beverage in energy drinks, and Nestlé and Danone in water.