On August 30th, 1888, Asa Candler essentially completed his purchase of the formula, trademarks and manufacturing equipment of Coca-Cola. Candler had begun buying portions of the Company in April 1888 when Walker, Candler & Company (which was controlled by Candler) purchased the one third share of Coca-Cola held by John Pemberton for $ 550. Three days later, Candler purchased a one half portion of the remaining interest of Coca-Cola which was held by two investors, Wollfork Walker and his sister Mrs. M.C. Dozier for $ 750.
When Candler purchased the rest of Walker and Dozier's interest on August 30th for $ 1,000 plus interest, he now controlled all the stock for Coca-Cola and had expended $ 2,300.00 plus interest. While he controlled the Company and the formula, Candler waited until December 29th, 1891 to petition the Fulton County Superior Court to incorporate The Coca-Cola Company as a Georgia corporation. The first meeting of the The Coca-Cola Company was held on February 22nd, 1892. Candler sold the Company in 1919 for 25 million dollars. Not a bad investment on that original $ 2,300.
More on Journey
- Celebrating the Champs: The Storied History of Coke's Commemorative Sports Cans (and Bottles)
- From One Fan to Another: The Story Behind Unbox Therapy's Coca-Cola Cooler
- Why the Coca-Cola Archives is Digitizing More than 6,000 Analog Tapes
- Coca-Cola Salesman's Career in Mississippi Started During Civil Rights Movement
- Honoring a Native Son: Coca-Cola Exhibit, Panel Pay Tribute to Dr. Martin Luther King, Jr. and His Nobel Peace Prize