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<SEC-DOCUMENT>0000950123-10-071134.txt : 20101014
<SEC-HEADER>0000950123-10-071134.hdr.sgml : 20101014
<ACCEPTANCE-DATETIME>20100802162600
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0000950123-10-071134
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20100802

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			COCA COLA BOTTLING CO CONSOLIDATED /DE/
		CENTRAL INDEX KEY:			0000317540
		STANDARD INDUSTRIAL CLASSIFICATION:	BOTTLED & CANNED SOFT DRINKS CARBONATED WATERS [2086]
		IRS NUMBER:				560950585
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		4100 COCA COLA PLZ
		CITY:			CHARLOTTE
		STATE:			NC
		ZIP:			28211
		BUSINESS PHONE:		7045514400

	MAIL ADDRESS:	
		STREET 1:		4100 COCA COLA PLZ
		CITY:			CHARLOTTE
		STATE:			NC
		ZIP:			28211
</SEC-HEADER>
<DOCUMENT>
<TYPE>CORRESP
<SEQUENCE>1
<FILENAME>filename1.htm
<TEXT>
<HTML>
<HEAD>
<TITLE>corresp</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>Coca-Cola Bottling Co. Consolidated<BR>
4100 Coca-Cola Plaza<BR>
Charlotte, NC 28211</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">August&nbsp;2, 2010
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><U>VIA EDGAR</U></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Mr.&nbsp;John Reynolds<BR>
Assistant Director<BR>
Division of Corporation Finance<BR>
United States Securities and Exchange Commission<BR>
100 F Street, N.E.<BR>
Washington, DC 20549

</DIV>

<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left"><B>Re:</B></TD>
    <TD>&nbsp;</TD>
    <TD><B>Coca-Cola Bottling Co. Consolidated<br>
Form&nbsp;10-K<br>
Filed March&nbsp;18, 2010<br>
File No.&nbsp;000-9286</B></TD>
</TR>
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Dear Mr.&nbsp;Reynolds:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">This letter is submitted in response to the comments of the Staff of the Division of Corporation
Finance of the Securities and Exchange Commission (the &#147;Commission&#148;) on the Annual Report on Form
10-K of Coca-Cola Bottling Co. Consolidated (the &#147;Company&#148;) for the year ended January&nbsp;3, 2010, as
set forth in your letter dated July&nbsp;6, 2010.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">For your convenience of reference, the Staff&#146;s comments are provided herein in bold, with our
response following the comment.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><U>Form&nbsp;10-K, filed March&nbsp;18, 2010</U></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B><U>Exhibits and Financial Schedules, page 106</U></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>1.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>We note that exhibits 10.1 and 10.25 do not have some or all of the schedules, attachments,
or exhibits as listed in the exhibit itself. Please file with your next periodic report each
exhibit in its entirety as required by Item&nbsp;</B><B>601(b)(10)</B><B> of Regulation&nbsp;S-K or advise. Also,
with respect to exhibits 10.25 and 10.26, it appears you do not provide the &#147;relevant Amended
Agreement,&#148; &#147;Appendix&#148; or other executed agreements that contain the actual performance
measures applicable to named executive officers. Please file such agreements or advise.</B></TD>
</TR>


</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Mr.&nbsp;John Reynolds<BR>
United States Securities and Exchange Commission<BR>
August&nbsp;2, 2010<BR>
Page 2

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 22pt">Response:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U>Exhibit&nbsp;10.1/Credit Agreement</U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Exhibit&nbsp;10.1 to the Company&#146;s Form 10-K for the fiscal year ended January&nbsp;3, 2010 (the &#147;2010 Form
10-K&#148;) is the U.S. $200,000,000 Amended and Restated Credit Agreement, dated as of March&nbsp;8, 2007
(the &#147;Credit Agreement&#148;), by and among the Company, the banks named therein and Citibank, N.A., as
administrative agent. The Company originally filed the Credit Agreement as an exhibit to the
Company&#146;s Form 8-K filed on March&nbsp;14, 2007. The Company will file the Credit Agreement as an
exhibit to its Quarterly Report on Form 10-Q for the quarterly period ended July&nbsp;4, 2010 that it
expects to file in early August and, when it does so, will include all of the schedules,
attachments and exhibits to the Credit Agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U>Exhibit&nbsp;10.25/Annual Bonus Plan</U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Exhibit&nbsp;10.25 to the 2010 Form 10-K is the Company&#146;s Annual Bonus Plan. The Company originally
filed the Annual Bonus Plan as Appendix&nbsp;B to its Proxy Statement for its 2007 Annual Meeting of
Stockholders (the &#147;2007 Proxy Statement&#148;) at which the Annual Bonus Plan was submitted to and
approved by the Company&#146;s stockholders. The Annual Bonus Plan was described in the 2007 Proxy
Statement and has been described in all of the Company&#146;s proxy statements filed since then.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Cash awards have been made for each of 2007, 2008, 2009 and 2010 in the manner contemplated by the
Annual Bonus Plan and using the performance measures and factors set forth on Annex A thereto (a
copy of which Annex A is attached to the form of Annual Bonus Plan attached as Appendix&nbsp;B to the
2007 Proxy Statement that is incorporated by reference into the 2010 Form 10-K). These cash awards
and the performance measures and factors are specifically identified, quantified and described in
the Company&#146;s annual proxy statement for each year as part of the Company&#146;s discussion of its
compensation for the prior year.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Company does not enter into individual award agreements with executive officers or other
employees who receive awards under the Annual Bonus Plan. Instead, in the first quarter of each
year at a regularly scheduled meeting, the Company&#146;s Compensation Committee establishes the
specific performance measures and factors for awards for that particular year. We do not believe
this action taken by the Compensation Committee at a meeting constitutes an amendment to the Annual
Bonus Plan or creates a contract or agreement with the participants in the Annual Bonus Plan.
Instead, the Compensation Committee is simply taking action in the manner contemplated by the
Annual Bonus Plan. The amount of the awards and related performance measures and factors are then
individually communicated to participants in the Annual Bonus Plan. In light of these particular
facts and circumstances, the Company does not believe that there are any further schedules,
attachments, exhibits or agreements that it is required to file as an exhibit with respect to the
Annual Bonus Plan. The Company notes that its disclosure of awards under the Annual Bonus Plan is
consistent with the Staff&#146;s guidance in Compliance Disclosure Interpretations 117.09, 117.10 and
117.11 to Form 8-K.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Mr.&nbsp;John Reynolds<BR>
United States Securities and Exchange Commission<BR>
August&nbsp;2, 2010<BR>
Page 3

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 22pt"><U>Exhibit&nbsp;10.26/Long-Term Performance Plan</U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Exhibit&nbsp;10.26 to the 2010 Form 10-K is the Company&#146;s Long-Term Performance Plan. The Company
originally filed the Long-Term Performance Plan as Appendix&nbsp;C to its Proxy Statement for its 2007
Annual Meeting of Stockholders at which the Long-Term Performance Plan was submitted to and
approved by the Company&#146;s stockholders. The Long-Term Performance Plan was described in the 2007
Proxy Statement and has been described in all of the Company&#146;s proxy statements filed since then.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Company made awards in the first quarter of 2008, 2009 and 2010 under the Long-Term Performance
Plan for the three-year periods beginning with each such year. These awards were made in the
manner contemplated by the Long-Term Performance Plan and using the performance goals set forth
therein. The amounts of these awards and the performance goals are specifically identified,
quantified and described in the Company&#146;s annual proxy statement for each year as part of the
Company&#146;s discussion of its compensation for the prior year.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">After the amounts of the awards and the related performance goals were established in the first
quarter of each year, the Company presented individual participants with a Long-Term Performance
Plan Bonus Award Agreement (the &#147;Award Agreement&#148;) that is in the form of a certificate. While the
Company notes that the form of the Award Agreement is consistent with the previously disclosed
terms of the Long-Term Performance Plan, the Company will file the form of the Award Agreement as
an exhibit to its Quarterly Report on Form 10-Q for the quarterly period ended July&nbsp;4, 2010 that it
expects to file in early August. The Company does not believe it is necessary to file individual
Award Agreements as exhibits to its filings in light of the Instruction to Paragraph (b)(10) of
Item&nbsp;601 of Regulation&nbsp;S-K which provides that &#147;registrants need only file copies of the various
compensatory plans and need not file each individual director&#146;s or executive officer&#146;s personal
agreement under the plans unless there are particular provisions in such personal agreements whose
disclosure in an exhibit is necessary to an investor&#146;s understanding of that individual&#146;s
compensation under the plan.&#148; The Company notes that the Award Agreements are all identical other
than with respect to each individual&#146;s award amount and that it is not necessary to file Award
Agreements for each executive officer. Finally, the Company notes that this treatment of awards
under the Long-Term Performance Plan will be consistent with the Staff&#146;s guidance in Compliance
Disclosure Interpretations 117.09, 117.10 and 117.11 to Form 8-K.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><U>Other</U></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>2.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>We note the </B><B>Form 8-K</B><B> filed April&nbsp;7, 2010 and the legal opinion and other exhibits relating to
an April&nbsp;2, 2010 prospectus for 7% notes due 2019. It is unclear whether you filed a
supplemental indenture in connection with this offering. Please advise. With respect to the
foregoing, please consider Compliance Disclosure Interpretation 201.04 to the Trust Indenture
Act for helpful guidance.</B></TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Mr.&nbsp;John Reynolds<BR>
United States Securities and Exchange Commission<BR>
August&nbsp;2, 2010<BR>
Page 4

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 22pt">Response: The Company issued $110,000,000 aggregate principal amount of 7.00% senior notes due
2019 (the &#147;senior notes&#148;) pursuant to a Registration Statement on Form S-3 (Registration No.
333-155635) that was filed with the Commission on November&nbsp;24, 2008 and declared effective on
December&nbsp;18, 2008. In connection with the issuance of the senior notes, the Company filed a
preliminary prospectus on April&nbsp;2, 2009 and a final prospectus on April&nbsp;3, 2009. In addition, the
Company filed a Form 8-K on April&nbsp;7, 2009 in which it reported its entering into the underwriting
agreement related to the senior notes as well as certain other information related to the senior
note offering. The Company filed the underwriting agreement, the form of senior note and the
Exhibit&nbsp;5 legal opinion as exhibits to the Form 8-K dated April&nbsp;7, 2009.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The senior notes were issued under an indenture originally dated as of July&nbsp;20, 1994 between the
Company and NationsBank of Georgia, National Association, as trustee, as such indenture was
supplemented and restated in its entirety by the supplemental indenture dated March&nbsp;3, 1995, as
amended and supplemented (the &#147;Supplemental Indenture&#148;), between the Company and The Bank of New
York Mellon Trust Company, N.A., as successor trustee. This Supplemental Indenture had previously
been filed as an exhibit to the Company&#146;s Annual Report on Form 10-K for the fiscal year ended
December&nbsp;29, 2002. The Registration Statement on Form S-3 (Registration No.&nbsp;333-155635) under
which the senior notes were offered and sold included as exhibits both the Supplemental Indenture
and the Statement of Eligibility on Form T-1 for The Bank of New York Mellon Trust Company, N.A.,
the successor trustee under the Supplemental Indenture.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Pursuant to the terms of the Supplemental Indenture, the Company prepared and executed a global
note in connection with the closing of the senior note offering, the form of which was filed as
Exhibit&nbsp;4.1 to the Company&#146;s Form 8-K dated April&nbsp;7, 2009. While the Company did deliver various
closing certificates and orders to the successor trustee under the Supplemental Indenture, the
Company was not required to nor did it enter into a further supplemental indenture in connection
with the issuance of the senior notes. Instead, the Company issued the senior notes in the manner
contemplated by the Supplemental Indenture by simply executing a senior note dated April&nbsp;7, 2009 in
the original principal amount of $110,000,000. The Company advises the Staff that certain terms
related to the senior notes (e.g., the Company&#146;s optional redemption right and the Company&#146;s
obligation to make an offer to repurchase the senior notes upon certain change of control
triggering events) were established, as contemplated by Section&nbsp;301 of the Supplemental Indenture,
pursuant to a board resolution and officers&#146; certificate delivered to the trustee and set forth in
the actual senior note rather than in a supplemental indenture.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Company believes the approach it followed in connection with the senior notes offering is
consistent with that outlined by the Staff in Compliance Disclosure Interpretation 201.04 to the
Trust Indenture Act.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Mr.&nbsp;John Reynolds<BR>
United States Securities and Exchange Commission<BR>
August&nbsp;2, 2010<BR>
Page 5

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 22pt"><B><U>DEF 14A, filed March&nbsp;30, 2010</U></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U><B>Risk Analysis of Compensation Plans, page 39</B></U>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>3.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>We note the statement on page 39 that you reviewed your compensation policies and practices
and &#147;concluded that any risks arising from &#091;the&#093; policies and practices are not reasonably
likely to have a material adverse effect on Coke Consolidated.&#148; Please describe for us the
process you undertook to reach the conclusion that disclosure is not necessary under Item
4</B><B>02(s)</B><B> of Regulation&nbsp;S-K.</B></TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Response: As described in the &#147;Compensation Discussion and Analysis&#148; section of the Company&#146;s most
recent proxy statement, the Company&#146;s Compensation Committee and its senior management have
designed the Company&#146;s compensation programs to achieve a number of goals, including the following:
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Motivating the Company&#146;s executive officers to achieve the Company&#146;s annual and
long-term strategic goals;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Appropriately taking into account risk and reward in the context of the Company&#146;s
business environment and long-range business plans;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Being affordable and appropriately aligned with stockholder interests; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Achieving a reasonable balance across types and purposes of compensation,
particularly with respect to fixed compensation objectives, short-term and long-term
based performance-based objectives and retention and retirement objectives.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In light of these goals, the Company&#146;s Compensation Committee and its senior management have
routinely considered risk as they have designed the various elements of the Company&#146;s compensation
programs. During the first quarter of 2010, members of the Company&#146;s senior management along with
human resources personnel considered the Company&#146;s compensation policies and practices for all
employees and confirmed their conclusion that the risks arising from these policies and practices
are not reasonably likely to have a material adverse effect on the Company.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Company notes the following factors with respect to the determination that the risks arising
from its compensation policies and practices are not reasonably likely to have a material adverse
effect on the Company:
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Company believes that its compensation programs are reasonably balanced across
types of compensation and the various objectives they are designed to reward.</TD>
</TR>


</TABLE>
</DIV>
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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 22pt">Mr.&nbsp;John Reynolds<BR>
United States Securities and Exchange Commission<BR>
August&nbsp;2, 2010<BR>
Page 6

</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>While the Company does not engage in compensation benchmarking, it does retain
Hewitt Associates to conduct comparative studies of the Company&#146;s executive
compensation relative to peer companies.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Company&#146;s Annual Bonus Plan and its Long-Term Performance Plan provide for
payouts based on the achievement of key financial goals under the Company&#146;s long-range
strategic plan and provide for increased payout as financial
performance increases and less or no payout as financial performance decreases.
Awards under these plans do not provide for payouts based on individual transactions
that could transfer liability to the Company beyond the award date. In addition,
the performance units awarded to the Company&#146;s Chief Executive Officer vest based
upon the Company&#146;s achieving the specified corporate performance goals under the
Annual Bonus Plan.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The specific corporate performance goals for the Company&#146;s Annual Bonus Plan and its
Long-Term Performance Plan are initially developed by the Company&#146;s Chief Financial
Officer, Chief Accounting Officer and Treasurer using financial models that assist them
in determining the appropriate award criteria. These proposed models are reviewed with
and approved by other executive officers of the Company before being presented to,
reviewed with and approved by the Compensation Committee.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Performance goals are based on corporate and individual performance and are not
based on other goals that may create increased risk such as the performance of
individual business units or the accomplishment of particular tasks where the income
and risk from the task extend over a significantly longer period of time.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><U>Related Person Transactions, page 41</U></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>4.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>We note the statement that prices are &#147;generally set by The Coca-Cola Company.&#148; With a view
to clarifying disclosure in future filings, please advise us of the mechanics for determining
the price and other material terms of the concentrates, syrups and marketing programs.</B></TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Response: The Company&#146;s business consists primarily of the production, marketing and distribution
of nonalcoholic beverage products of The Coca-Cola Company, which is the sole owner of the secret
formulas for the concentrates or syrups used to make these products. Accordingly, the Company
engages in various transactions with The Coca-Cola Company, including transactions relating to its
purchase of concentrates and syrups from The Coca-Cola Company and its marketing funding
arrangements with The Coca-Cola Company.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Mr.&nbsp;John Reynolds<BR>
United States Securities and Exchange Commission<BR>
August&nbsp;2, 2010<BR>
Page 7

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 22pt"><U>Purchase of Concentrates and Syrups</U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Company has entered into various agreements with The Coca-Cola Company that entitle the Company
to produce, market and distribute in its exclusive territory The Coca-Cola Company&#146;s nonalcoholic
beverages in bottles, cans and five gallon pressurized pre-mix containers. These agreements with
The Coca-Cola Company generally require the Company to purchase concentrates and syrups at prices,
on terms of payment, and on other terms and conditions of supply as determined from time to time by
The Coca-Cola Company in its sole discretion. The Company has entered into additional agreements
with The Coca-Cola Company generally providing that The Coca-Cola
Company will sell syrups and concentrates
to the Company at prices no greater than those charged to other bottlers party to agreements
substantially similar to those between the Company and The Coca-Cola Company.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In addition, the Company entered into an agreement with The Coca-Cola Company to test an
incidence-based pricing model for 2008 for all sparkling beverages for which the Company purchases
concentrate from The Coca-Cola Company. Under this model, the concentrate price The Coca-Cola
Company charges is impacted by a number of factors, including the Company&#146;s pricing of finished
products, the channels in which the finished products are sold and package mix. For 2009 and 2010,
the Company has continued to purchase concentrate under this incidence-based pricing model and did
not purchase concentrates at standard concentrate prices as was the practice in prior years.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U>Marketing Funding Arrangements</U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Company&#146;s agreements with The Coca-Cola Company generally require the Company to use all
approved means and spend such funds on advertising and other forms of marketing as may be
reasonably required to satisfy demand for The Coca-Cola Company&#146;s beverage products in its
territories. The Company is required to meet annually with The Coca-Cola Company to present its
marketing, management, and advertising plans for the upcoming year, including financial plans
showing that the Company has the consolidated financial capacity to perform its duties and
obligations to The Coca-Cola Company.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Company relies extensively on advertising and sales promotion in the marketing of its products.
The Coca-Cola Company and other beverage companies that supply concentrates, syrups and finished
products to the Company have historically made substantial marketing and advertising expenditures
to promote sales in the local territories served by the Company. The Company also benefits from
national advertising programs conducted by The Coca-Cola Company and other beverage companies.
Certain of the marketing expenditures by The Coca-Cola Company and other beverage
companies are made pursuant to annual arrangements.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">While The Coca-Cola Company has provided the Company with marketing funding support in the past,
the Company&#146;s bottling agreements generally do not obligate The Coca-Cola Company to do so. The
Company has however entered into agreements with The Coca-Cola Company
</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Mr.&nbsp;John Reynolds<BR>
United States Securities and Exchange Commission<BR>
August&nbsp;2, 2010<BR>
Page 8

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 22pt">generally providing that The
Coca-Cola Company will offer marketing funding to the Company in a manner consistent with its
dealing with comparable bottlers.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U>Future Proxy Statement Disclosure</U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Company will provide additional disclosure in its proxy statement in the future with respect to
its purchase of concentrates and syrups from The Coca-Cola Company and its marketing funding
arrangements with The Coca-Cola Company. In particular, the future disclosure with respect to the
purchase of concentrates and syrups will discuss the following items:
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Company&#146;s agreements with The Coca-Cola Company generally require it to purchase
concentrates and syrups at prices, on terms of payment, and on other terms and
conditions of supply as determined from time to time by The
Coca-Cola Company in its sole discretion;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Company has entered into additional agreements with The Coca-Cola Company
generally providing that The Coca-Cola Company will sell syrups and concentrates to the
Company at prices no greater than those charged to other bottlers party to agreements
substantially similar to those between the Company and The Coca-Cola Company; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Company&#146;s and The Coca-Cola Company&#146;s incidence-based pricing model is utilized
for Company purchases of sparkling beverage concentrate from The Coca-Cola Company.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In addition, the future disclosures with respect to the Company&#146;s marketing funding arrangements
with The Coca-Cola Company will discuss the following items:
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>While The Coca-Cola Company has provided the Company with marketing funding support
in the past, the Company&#146;s bottling agreements generally do not obligate The Coca-Cola
Company to do so; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Company has entered into additional agreements with The Coca-Cola Company
generally providing that The Coca-Cola Company will offer marketing funding to the
Company in a manner consistent with its dealing with comparable bottlers.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Mr.&nbsp;John Reynolds<BR>
United States Securities and Exchange Commission<BR>
August&nbsp;2, 2010<BR>
Page 9

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 22pt">The Company acknowledges that:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>it is responsible for the adequacy and accuracy of the disclosure in the filing;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>comments from the Staff of the Commission or changes to disclosure in response to
Staff comments do not foreclose the Commission from taking any action with respect to
the filing; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>it may not assert Staff comments as a defense in any proceeding initiated by the
Commission or any person under the federal securities laws of the United States.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Thank you for your consideration of our conclusions and proposed disclosure. Please call me at
704-557-4219 if you have any questions regarding the matters addressed in this letter or require
any additional information.
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="25%">&nbsp;</TD>
    <TD width="65%">&nbsp;</TD>
</TR>
<TR>
    <TD colspan="4" align="left">Sincerely,<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD colspan="4" style="border-bottom: 1px solid #000000" align="left">/s/William J. Billiard
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD colspan="4" align="left">William J. Billiard&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD colspan="4" align="left">Vice President, Controller<BR>
Chief Accounting Officer&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left">cc:</TD>
    <TD>&nbsp;</TD>
    <TD>Erin Wilson<br>
James Lopez</TD>
</TR>
</TABLE>
</DIV>


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</DIV>



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