Today in Georgia History: Coca-Cola Is Sold
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August 22, 1919
The Atlanta Constitution announced that the Candler family had sold their controlling interests in The Coca-Cola Co. to Trust Company Bank of Georgia, according to the Georgia Historical Society and Georgia Info, The University of Georgia.
The Trust Company planned to reincorporate Coca-Cola Co. in Delaware but would keep Cocaa-Cola's headquarters in Atlanta.
The sale was not completed until Sept. 12, 1919, and involved a group of investors led by Trust Company president Ernest Woodruff who purchased Coca-Cola for $25 million, according to Georgia Info, The University of Georgia.