The Coca-Cola Company
Company History
Coca-Cola History: Founding, Growth & Key Milestones
Founded 1892 in Atlanta, United States
When was Coca-Cola founded?
Coca-Cola was founded in 1892 in Atlanta, United States by Asa Griggs Candler and John Stith Pemberton, making it 134 years old.
- Founded
- 1892
- Founding place
- Atlanta, United States
- Founders
- Asa Griggs Candler and John Stith Pemberton
- Headquarters today
- Atlanta, Georgia
- Milestones documented
- 15 (1892–2025)
- Current CEO
- Henrique Braun
- Acquisitions
- 5
| Year | Event |
|---|---|
| 2025 | $47.9B Revenue and 65,900 Employees |
| 2024 | $47.1B Revenue |
| 2023 | $45.8B Revenue |
| 2021 | BodyArmor Full Acquisition |
| 2019 | Costa Coffee Acquisition |
| 2017 | Topo Chico Joins the Portfolio |
| 2017 | James Quincey Becomes CEO |
| 2009 | Freestyle Fountain System Unveiled |
| 2008 | Muhtar Kent Becomes CEO |
| 1985 | New Coke Reversal |
| 1928 | Olympic Sponsorship Begins |
| 1919 | Company Sold for $25 Million |
| 1915 | Contour Bottle Introduced |
| 1899 | National Bottling Rights Granted |
| 1892 | The Coca-Cola Company Founded |
- Where was Coca-Cola founded?
- Coca-Cola was founded in Atlanta, United States in 1892. wikidata.org
- Who founded Coca-Cola?
- Coca-Cola was founded by Asa Griggs Candler and John Stith Pemberton.
- When did Coca-Cola start?
- Coca-Cola was founded in 1892.
- How old is Coca-Cola?
- Coca-Cola is 134 years old as of 2026.
Founding Story
In 1886, Dr. John Stith Pemberton, an Atlanta pharmacist seeking a cure for his morphine addiction, formulated a dark, sweet syrup in a brass kettle in his backyard. When mixed with carbonated water, he believed it cured headaches and fatigue. He sold it for five cents a glass at Jacobs' Pharmacy. His bookkeeper, Frank Robinson, named it 'Coca-Cola' and designed the well-known, flowing script logo still used today. Pemberton died poor, never realizing he had invented the most valuable consumer product in the history of the world.
Founders
Asa Griggs Candler
The founding of Coca-Cola is a historic and ironic story of a struggling pharmacist seeking a cure for his own pain, combined with the effective, aggressive marketing of a man who recognized the potential of the brand. The beverage was invented in 1886 by Dr. John Stith Pemberton in Atlanta, Georgia. Pemberton was a Confederate veteran of the Civil War who had sustained a severe saber wound to his chest. Like many wounded veterans, he became addicted to the morphine used to treat his pain. Desperate to find a cure for his addiction, he began experimenting with alternative painkillers. He formulated a syrup combining coca leaf extract (which contained small amounts of cocaine) and kola nut extract (which contained caffeine). He originally sold it as a patent medicine called 'Pemberton's French Wine Coca,' claiming it cured everything from morphine addiction to nerve exhaustion. When Atlanta enacted strict prohibition laws in 1886 Pemberton was forced to remove the alcohol from his formula. He created a non-alcoholic version of the syrup and mixed it with carbonated water. His bookkeeper, Frank Robinson, came up with the name 'Coca-Cola' and designed the well-known, flowing script logo that is still used today. However, Pemberton's health was rapidly failing, and his morphine addiction had drained his finances. He began desperately selling off shares of his formula to various partners. The crucial foundational pivot occurred in 1888 when an effective, aggressive Atlanta businessman named Asa Griggs Candler purchased the entire rights to the formula for roughly $2,300. Candler possessed marketing clever; he distributed coupons for free samples and plastered the Coca-Cola logo on calendars, clocks, and apothecary scales across the country. Candler transformed Pemberton's obscure, local nerve tonic into a national phenomenon, eventually selling the bottling rights (for just one dollar) and establishing the foundational architecture of the global empire. Asa Griggs Candler was born in 1851 in Villa Rica.
John Stith Pemberton
John Pemberton is best understood as the inventor of Coca-Cola rather than the builder of The Coca-Cola Company. He created the original syrup in 1886, and the first servings reportedly averaged only about nine per day at Jacob's Pharmacy. Pemberton sold portions of his rights before his death in 1888, so he did not live to see the company incorporated in 1892 or the brand become a national and global product. His contribution was the formula and the first commercial test: a distinctive drink that could attract repeat curiosity in a crowded pharmacy-fountain market. His legacy is complicated because the fortune came after others consolidated ownership and built the distribution system. Still, Coca-Cola's founding mythology begins with Pemberton's experiment, and the company's culture of formula secrecy, taste consistency, and product ritual traces back to that first syrup. John Stith Pemberton was born in 1831 in Knoxville. Education: Wesleyan College.
Key Milestones
$47.9B Revenue and 65,900 Employees
In FY2025, Coca-Cola reported $47.9 billion in revenue and $13.1 billion in net income. Its 2025 Form 10-K listed about 65,900 company employees at year-end, down from about 69,700 in 2024 because of divestiture activity. The result mattered because it showed a mature beverage company still converting modest reported revenue growth into substantial profit while managing portfolio and bottling-system changes.
Source: en.wikipedia.org$47.1B Revenue
In FY2024, Coca-Cola reported $47.1 billion in revenue, with organic performance supported heavily by price/mix and concentrate sales timing. The result mattered because it showed durability despite inflation, currency pressure, and consumer sensitivity in several markets. It also demonstrated the power of revenue growth management, which can increase value even when volume gains are modest. The consequence was continued confidence in the company's ability to protect margins while investing in zero-sugar and non-carbonated categories.
Source: en.wikipedia.org$45.8B Revenue
In FY2023, Coca-Cola reported $45.8 billion in revenue, continuing its recovery from the pandemic-era decline in away-from-home channels. The result mattered because it showed that price/mix, channel recovery, and global execution could lift revenue even in a mature category. It also gave management more flexibility to fund marketing, digital tools, and category expansion. The consequence was a clearer investor case for Coca-Cola as a high-margin beverage compounder rather than a no-growth soda company.
Source: en.wikipedia.orgBodyArmor Full Acquisition
Coca-Cola acquired full control of BodyArmor in 2021 in a transaction valued at about $5.6 billion for the remaining stake. The deal deepened Coca-Cola's position in sports drinks, a category long led by PepsiCo's Gatorade. It mattered because sports hydration offers growth and functional positioning beyond soda. The consequence was a stronger challenge in performance beverages, though Coca-Cola still had to prove it could scale BodyArmor while preserving the brand's athlete-driven identity.
Source: en.wikipedia.orgCosta Coffee Acquisition
Coca-Cola completed the Costa Coffee acquisition in 2019, adding a coffee platform with retail stores, Costa Express vending, for-home formats, and ready-to-drink potential. The transaction was reported at $4.9 billion at closing after an earlier $5.1 billion announcement. It mattered because coffee is a daily morning and workplace occasion where traditional carbonated soft drinks have limited permission. The deal also brought more operating complexity than the company's concentrate model because retail coffee depends on service, labor, real estate, and store execution.
Source: en.wikipedia.orgTopo Chico Joins the Portfolio
Coca-Cola acquired Topo Chico in 2017, adding a premium sparkling mineral water brand sourced from Cerro del Topo Chico in northern Mexico. The deal mattered because it gave the company a culturally distinct water brand at a time when consumers were shifting toward unsweetened sparkling beverages. It also broadened the portfolio without asking the core cola trademark to stretch into every refreshment occasion.
Source: en.wikipedia.orgJames Quincey Becomes CEO
James Quincey became CEO in 2017 and accelerated the push toward a total beverage strategy. He emphasized revenue growth management, zero-sugar products, refranchising discipline, and fewer but stronger brands. His leadership mattered because Coca-Cola needed to answer declining full-sugar soda consumption without abandoning the economics of its core system. The consequence was a sharper portfolio with major moves in coffee, sports hydration, premium water, and value-added dairy.
Source: en.wikipedia.orgFreestyle Fountain System Unveiled
Coca-Cola unveiled Freestyle in 2009, giving foodservice customers a fountain dispenser with more than 100 beverage choices. The machine mattered because it made flavor choice and consumer preference data part of the fountain business rather than only a retail-packaged-goods question. It also helped the company test smaller flavor signals before committing to broader product launches.
Source: en.wikipedia.orgMuhtar Kent Becomes CEO
Muhtar Kent became CEO in 2008 during a period when emerging markets, bottler alignment, and category diversification were becoming more important. He pushed international execution and supported investment in the Coca-Cola system after years of uneven growth. His era helped prepare the company for refranchising and a wider beverage portfolio. The measurable consequence was a stronger global platform that James Quincey later reshaped with more aggressive portfolio discipline.
Source: en.wikipedia.orgNew Coke Reversal
Coca-Cola introduced New Coke in 1985 after taste tests suggested a sweeter formula could compete more effectively with Pepsi. Consumers rejected the change because the original product had emotional and cultural value beyond flavor. The company restored the original formula as Coca-Cola Classic after 79 days. The episode changed how Coca-Cola understood brand ownership and became a permanent warning against reading consumer data too narrowly.
Source: en.wikipedia.orgOlympic Sponsorship Begins
Coca-Cola began its Olympic sponsorship in 1928, linking the brand to international sport and public celebration. The partnership mattered because it gave Coca-Cola a platform that crossed language and national boundaries. It helped shift the brand from an American refreshment into a global symbol of shared occasions. The long-term consequence was a sports-marketing capability that Coca-Cola still uses to reinforce relevance around major events.
Source: en.wikipedia.orgCompany Sold for $25 Million
In 1919, the Candler family sold Coca-Cola to a group of investors led by Ernest Woodruff for $25 million. The transaction signaled that Coca-Cola had become a valuable national business rather than a regional success. New ownership brought capital-market discipline and prepared the company for a broader expansion era. It also set the stage for Robert W. Woodruff's leadership and Coca-Cola's global ambitions.
Source: en.wikipedia.orgContour Bottle Introduced
Coca-Cola introduced the contour bottle design in 1915 to make the product recognizable and harder to imitate. At a time when copycat colas were common, the bottle gave consumers a visual and tactile cue that they were buying the real product. The design strengthened trademark defense and helped standardize the packaged experience. Its consequence was to turn packaging into part of the brand advantage rather than a commodity container.
Source: en.wikipedia.orgNational Bottling Rights Granted
In 1899, Benjamin F. Thomas and Joseph B. Whitehead secured rights to bottle Coca-Cola across much of the United States. The deal looked less important than the fountain business at first, but it became the foundation of Coca-Cola's physical reach. Bottlers invested local capital in plants, bottles, trucks, and routes while the parent company protected the brand and supplied syrup.
Source: en.wikipedia.orgThe Coca-Cola Company Founded
Asa Griggs Candler incorporated The Coca-Cola Company in Atlanta in 1892 after acquiring rights connected to John Pemberton's original formula. The incorporation turned a local pharmacy fountain drink into a company centered on trademark control, promotion, and repeatable taste. It mattered because Candler understood that the brand, not merely the syrup, could become the scarce asset. The consequence was a business that could scale through advertising and distribution partnerships rather than remaining a local soda-counter product.
Source: en.wikipedia.orgMajor Acquisitions
Costa Coffee
2019Coca-Cola acquired Costa Coffee to enter coffee retail, vending, and ready-to-drink coffee with an established brand rather than building from zero. The deal expanded Coca-Cola into a morning and workplace beverage occasion where carbonated soft drinks have limited natural relevance.
BodyArmor
2021Coca-Cola acquired full control of BodyArmor to strengthen its position in sports hydration and challenge PepsiCo's Gatorade franchise. The brand brought athlete-backed credibility and a faster-growth category than traditional full-sugar carbonated soft drinks.
Topo Chico
2017Coca-Cola acquired Topo Chico to enter premium sparkling mineral water with a brand that already had heritage, cultural credibility, and strong regional loyalty. The deal responded to consumer movement toward unsweetened sparkling beverages and premium hydration.
Fairlife
2020Coca-Cola acquired the remaining stake in fairlife to build a stronger position in value-added dairy, including high-protein milk and nutrition beverages. The purpose was to diversify into a category driven by protein, filtration, and wellness cues rather than classic refreshment.
Innocent Drinks
2013Coca-Cola built ownership of Innocent Drinks to gain a stronger position in smoothies, juices, and natural-positioned beverages in Europe. The deal helped Coca-Cola learn from a brand with a more informal, health-oriented identity than its traditional soda portfolio.
Keep researching Coca-Cola
Coca-Cola Company History FAQ
When was Coca-Cola created and who incorporated The Coca-Cola Company?
Dr. John Stith Pemberton created Coca-Cola on May 8, 1886, in Atlanta, Georgia, and pharmacist Asa Griggs Candler acquired complete ownership to incorporate The Coca-Cola Company in January 1892.
When did Coca-Cola expand across the United States and internationally?
Under Asa Candler and the 1899 bottling franchise contract, Coca-Cola expanded to every US state by 1895 and opened international bottling plants in Cuba, Panama, Canada, and the Philippines by the early 1910s.
When did the Woodruff family buy Coca-Cola and introduce the contour bottle?
The patented contour glass bottle was introduced in 1915, and in 1919 a banking syndicate led by Ernest Woodruff acquired The Coca-Cola Company for $25 million, launching its public listing on the NYSE under ticker KO.
How did Coca-Cola become a global icon during World War II?
During WWII, well-known then-CEO Robert Woodruff ordered that every American serviceman receive a bottle of Coca-Cola for 5 cents wherever they were, establishing 64 overseas military bottling plants that popularized Coke across Europe, the Pacific, and Asia.
When was Diet Coke launched and what was the 1985 'New Coke' crisis?
Diet Coke was launched in 1982 to large acclaim, but in April 1985 Coca-Cola reformulated the flagship soda as 'New Coke'. Massive consumer protests forced the company to bring back 'Coca-Cola Classic' 79 days later, demonstrating brand loyalty.
When was Coca-Cola Zero Sugar introduced globally?
Coca-Cola Zero was launched in 2005 (reformulated as Coca-Cola Zero Sugar in 2017), becoming one of the most successful global beverage innovations in history and driving zero-calorie soda growth.
When did James Quincey launch the 'Total Beverage Company' and acquire Costa Coffee?
James Quincey became CEO in 2017, launching the Total Beverage strategy and completing the acquisitions of Topo Chico (2017), Costa Coffee ($4.9B in 2019), Fairlife (2020), and BodyArmor ($5.6B in 2021).
What is The Coca-Cola Company's global status today?
Today, The Coca-Cola Company reports about $47.9 billion in annual revenue (2025), sells more than 200 brands in over 200 countries and territories, has raised its dividend for 64 consecutive years, and has been led by CEO Henrique Braun since March 31, 2026.
Did Coca-Cola originally have cocaine in it?
Yes, when John Pemberton invented the syrup in 1886, it contained trace amounts of cocaine from the coca leaf and caffeine from the kola nut. The cocaine was entirely removed from the recipe by 1929.
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