Coca-Cola secret formula 'out in the open'
Beirut, December 13, 2011
The Coca-Cola Company has moved its125-year-old secret formula to a new home at the World of Coca-Cola in Atlanta, where it will be visible to the public in a permanent exhibit titled, ‘The Vault of the Secret Formula’.
The exhibit will open today, a statement from the leading American multinational beverage company said.
“This is a special day in Coca-Cola history, and the perfect culmination to our 125th anniversary celebrations this year,” said Muhtar Kent, chairman and CEO, TheCoca-Cola Company. “By sharing this secret formula experience with our consumers, we celebrate both the rich history of the brand’s beginnings and the moments of refreshment and happiness to come for future generations.”
The company transferred the secret formula to the World of Coca-Cola from a vault at SunTrust Bank in downtown Atlanta where it had been housed since 1925.
“The move of the Coca-Cola secret formula is a historic moment,” said Phil Mooney, director of archives, The Coca-Cola Company. “The company has always gone to great lengths to protect it and now by safeguarding it at the World of Coca-Cola; we can share its legendary legacy with people around the world.”
After Dr John S Pemberton invented Coca-Cola in 1886, the formula was kept a close secret, only shared with a small group and not written down. In 1891, Asa Candler became the sole proprietor of the company after purchasing the rights to the business.
In 1919, Ernest Woodruff and a group of investors purchased the company from Candler and his family. To finance the purchase Woodruff arranged a loan and as collateral he provided documentation of the formula by asking Candler’s son to commit the formula to paper.
This was placed in a vault in the Guaranty Bank in New York until the loan was repaid in 1925. At that point, Woodruff reclaimed the secret formula and returned it to Atlanta and placed it in the Trust Company Bank, now SunTrust, where it remained until its recent move to the World of Coca-Cola.
As part of its 2020 Vision, the company plans to double its system revenue from 2010 to 2020. It has also set sustainability goals as part of its commitment to being a good steward of the environment and a partner with communities around the world.
The grand opening celebration event held today (December 13) featured performances by Coca-Cola’s 125th chorus, and the Latin Grammy-nominated Mexican singer-songwriter, Ximena Sariñana. – TradeArabia News Service