Coca-Cola sells concentrate and syrup to a worldwide network of bottling partners, who handle the heavy work of manufacturing and distribution. That asset-light structure leaves the company with brand building, and few do it better: alongside the flagship cola sit Sprite, Fanta, smartwater, Powerade and hundreds of local labels. Founded in 1886 in Atlanta, Coca-Cola reaches consumers in virtually every market on earth. Steady pricing power and a decades-long record of dividend growth define the investment story.