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This Day in Georgia History

September 12, 1919

Coca-Cola Sale Completed

The purchase of the Coca-Cola Co. from the Candler family by a group of investors led by Trust Company of Georgia president Ernest Woodruff for $25 million was completed. Earlier, the Aug. 22, 1919, edition of the Atlanta Constitution ran a front-page story on the impending sale citing an inflated purchase price of $30 million. The new Coca-Cola Co. was reorganized and reincorporated in the state of Delaware, but the company’s headquarters would remain in Atlanta. Five hundred thousand shares of stock in the new company were issued and offered to the public for $40 a share. The sale of Coca-Cola and subsequent chance for the public to purchase stock made national and international news.