# Who are The Coca-Cola Company's customers? Who does The Coca-Cola Company earn revenue from?
Canonical: https://valuechain.wiki/coca-cola · Facet: customers · Updated: 2026-10-11T17:28:00.082+00:00 · Source: ValueChain.wiki (cited money-flow graph)

**Citable summary**: The Coca-Cola Company's confirmed revenue counterparties include Coca-Cola Europacific Partners, Monster Beverage Corporation, McDonald's (exclusive fountain channel) plus 7 undisclosed/aggregate relationships. Per the valuechain.wiki graph: 10 revenue edges, backed by 16 dated sources, 6 of them primary filings (as of 2026-10-11).

### 코카콜라 유로퍼시픽 파트너스 (high)  → /coca-cola-europacific-partners.md
- metric: Amount €4.5B · FY2025 · Net Coca-Cola-related cost-of-sales impact reported by CCEP
- note: Coca-Cola supplies CCEP with concentrate, syrup, mineral water and juice and provides marketing support. CCEP reported a €4.543 billion net FY2025 cost-of-sales impact.
- [confirms] SEC EDGAR (EN, filing, published 2026-03-13) https://www.sec.gov/Archives/edgar/data/1650107/000165010726000029/cce-20251231.htm: "CCEP reported a €4.543 billion net cost-of-sales impact from Coca-Cola-related transactions."
- [mentions] SEC EDGAR (EN, filing, published 2026-02-20) https://www.sec.gov/Archives/edgar/data/21344/000162828026010047/ko-20251231.htm: "Coca-Cola identifies CCEP as one of its key bottlers."

### 몬스터 베버리지 (high)  → /monster-beverage.md
- metric: Amount $26M · FY2025 · FY2025 concentrate purchases from The Coca-Cola Company
- note: Coca-Cola sells concentrates to Monster, which resells them to certain bottlers and distributors, and Monster's FY2025 concentrate purchases totaled $25.8 million.
- [confirms] SEC EDGAR (EN, filing, published 2026-02-27) https://www.sec.gov/Archives/edgar/data/865752/000110465926020831/mnst-20251231x10k.htm: "Concentrate purchases from TCCC were $25.8 million."

### 보틀러 (농축액·시럽 판매) (high)
- metric: Market share 59% · FY2025 · concentrate operations share of revenue
- note: The core of Coca-Cola's revenue is selling concentrate and syrups to bottlers worldwide such as Coca-Cola Europacific Partners, Coca-Cola FEMSA, Arca Continental and Coca-Cola Consolidated; concentrate operations were 59% of 2024 revenue.
- [mentions] The Coca-Cola Company (EN, ir, published 2026-07-28) https://investors.coca-colacompany.com/filings-reports/all-sec-filings/content/0001628280-26-049922/a2026q2earningsreleaseex-9.htm: "Q2 2026 net revenue rose 7% to $13.4 billion and concentrate sales grew 4%."
- [confirms] SEC EDGAR (EN, filing, published 2026-02-20) https://www.sec.gov/Archives/edgar/data/21344/000162828026010047/ko-20251231.htm: "2025 net revenue was $47.9 billion and concentrate operations represented about 59%."
- [confirms] The Coca-Cola Company (EN, filing, published 2026-02-10) https://www.coca-colacompany.com/media-center/coca-cola-reports-fourth-quarter-and-full-year-2025-results: "FY2025 net revenues grew 2% to $47.9 billion; organic revenues +5% (price/mix +4%, concentrate +1%)."
- [mentions] Analyst consensus (via MarketScreener) (EN, research, published 2026-02-10) https://www.marketscreener.com/quote/stock/THE-COCA-COLA-COMPANY-4830/consensus/: "Analysts: defensive dividend king with resilient pricing-led organic growth; Buy consensus."
- [confirms] SEC (Coca-Cola 10-K) (EN, filing, published 2025-02-20) https://www.sec.gov/Archives/edgar/data/0000021344/000002134425000011/ko-20241231.htm: "Coca-Cola operates in concentrate operations and finished product operations; concentrate operations, selling concentrate and syrups to bottlers, were 59% of 2024 revenue."
- [confirms] The Coca-Cola Company (EN, ir, published 2025-02-11) https://investors.coca-colacompany.com/news-events/press-releases/detail/1128/coca-cola-reports-fourth-quarter-and-full-year-2024-results: "2024 revenue was $47.1B (+3%) and organic revenue grew 12%; Coca-Cola sells concentrate, syrups and bases to its bottling partners."

### 소비자·완제품 (직접 판매) (high)
- metric: Market share 41% · FY2025 · finished product operations share of revenue
- note: Coca-Cola also sells finished drinks directly to consumers via Bottling Investments and Global Ventures, which were 41% of 2024 revenue. Demand is defensive and brand-driven, and it is a dividend king that has raised its payout for over 60 years.
- [confirms] Investing.com (KO, news, published 2025-02-21) https://kr.investing.com/news/company-news/article-93CH-1371310: "Coca-Cola raised its dividend for the 63rd straight year, lifting the quarterly payout 5.2% from 48.5 to 51 cents, and returned $8.4B in dividends in 2024 as a defensive dividend stock."

### 맥도날드 (독점 음료 채널) (high)  → /mcdonalds.md
- note: A 70-year channel supplying McDonald's its exclusive soft drink since 1955 — a customer large enough to have a dedicated division at Coca-Cola HQ.
- [confirms] Yahoo Finance (EN, news, published 2026-05-01) https://finance.yahoo.com/markets/stocks/articles/mcdonalds-70-coke-alliance-enters-184907204.html: "McDonald's is Coca-Cola's iconic long-term customer with a dedicated division; sole soft-drink supplier since 1955."

### 다든 레스토랑 (high)  → /darden-restaurants.md
- note: The Coca-Cola Company had a beverage marketing agreement with Darden that was directly identified in Darden's 2014 Red Lobster sale agreement filed with the SEC. The filing confirms the relationship at that time, but current contract continuity and purchasing spend have not been publicly reconfirmed.
- [confirms] SEC EDGAR (EN, filing, published 2014-05-16) https://www.sec.gov/Archives/edgar/data/940944/000094094414000034/redlobsterassetandstockpur.htm: "cause any Contract with Coca-Cola Foodservice or its Affiliates to be replaced with a Replacement Contract"

### Costco Wholesale (mid)  → /costco.md
- note: Costco is a major warehouse-club channel for Coca-Cola branded beverages, and Coca-Cola has called Costco 'an important customer.'
- [confirms] Fox Business (EN, news, published 2025-07-19) https://www.foxbusiness.com/lifestyle/bye-pepsi-costco-locations-begin-make-switch-coca-cola-its-food-courts: "converting our food court fountain business back over to Coca-Cola... will span warehouses in 14 countries."
- [confirms] The Spokesman-Review (EN, news, published 2009-11-18) https://www.spokesman.com/stories/2009/nov/18/costco-coke-relations-fizzle/: "Coca-Cola said Costco is an important customer and that it is committed to working with it in a spirit of fairness."

### 로열 캐리비안 그룹 (mid)  → /royal-caribbean-group.md
- note: The Coca-Cola Company is the named brand behind the Coca-Cola Freestyle machines and dedicated cups that Royal Caribbean uses in onboard beverage packages across much of its fleet, but Royal Caribbean has not disclosed whether the contracting supplier is The Coca-Cola Company or a regional bottler, nor the procurement value.
- [mentions] Cruise Critic (EN, news, published 2026-03-02) https://www.cruisecritic.com/news/royal-caribbean-changes-beverage-package-souvenir-cup: "Coca-Cola Freestyle machines are available throughout Royal Caribbean's fleet."

### 케이시스 (mid)  → /caseys.md
- note: The Coca-Cola Company supplies beverages to Casey's stores through its bottling partners and operates joint campaigns with Casey's. Product-supply and campaign-specific payments were not disclosed.
- [confirms] Casey's (EN, ir, published 2025-07-30) https://investor.caseys.com/news-releases/news-release-details/caseys-cash-classrooms-round-returns-support-local-schools-and: "guests at Casey’s stores can ... purchase Coca-Cola products."

### 이마트 (low)  → /emart.md
- note: E-mart buys Coca-Cola products and sells them across its hypermarkets and online mall. For Coca-Cola, E-mart is a Korean retail revenue source.
- [confirms] E-Mart Mall (SSG) (KO, ir, published 2026-07-05) https://emart.ssg.com/disp/category.ssg?dispCtgId=6000213428: "E-Mart Mall's carbonated beverage category sells Coca-Cola products including Coca-Cola and Coca-Cola Zero."

Reverse side: https://valuechain.wiki/coca-cola/suppliers.md · Ripple: https://valuechain.wiki/coca-cola/ripple.md

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Full node: https://valuechain.wiki/coca-cola.md · JSON: https://valuechain.wiki/coca-cola.json