The name Coca-Cola is synonymous with refreshing soft drinks, and the brand eventually became one of the world’s most famous beverages thanks to businessman Asa Griggs Candler, who saw the potential of the Coca-Cola formula invented by pharmacist Dr. John Stith Pemberton.
In 1886, Pemberton created a thick, aromatic syrup in Atlanta, Georgia, intended to cure ailments such as headaches, relieve pain and boost energy.
Initially, he developed the syrup in a three-legged brass kettle in his backyard while seeking an alternative to morphine and other addictive painkillers widely used to treat wounded soldiers during the Civil War, according to History.com.
The original Coca-Cola syrup was served at Jacob’s Pharmacy for 5 cents a glass.
Its formula combined various ingredients, such as coca leaf extract and caffeine-rich kola nuts, blended with a thick, sweet syrup infused with citrus and spices.
Coca-Cola bottle is seen in this illustration photo taken in Berlin, Germany on November 11, 2024.Jakub Porzycki/NurPhoto via Getty Images
However, despite its initial purpose as a medicinal syrup, Coca-Cola was transformed into a refreshing beverage when the syrup was taken to Jacobs’ Pharmacy, where it was sampled and sold for five cents a glass.
The syrup was combined with carbonated water to create a refreshing soda fountain drink. Pemberton’s bookkeeper, Frank M. Robinson, suggested the name Coca-Cola and designed its now-famous Spencerian script logo.
During the brand’s early years, the beverage attracted many customers in Atlanta.
According to historical accounts, Coca-Cola generated a modest profit of $510 in its first year of business.
However, in 1888, Asa Griggs Candler began acquiring control of the Coca-Cola formula and business rights from Pemberton and other shareholders.
Although the Atlanta businessman advertised himself as the “sole proprietor of Coca‑Cola” in 1889, he did not secure sole ownership until 1891, at a total cost of $2,300.
Workers at the Coca-Cola bottling plant in 1949.Dukas/ATP/Grisel/Universal Images Group via Getty Images
Candler recognized the potential of emerging mass-marketing techniques and focused on advertising the drink through billboards, coupons, catchphrases and souvenirs.
Three years after Candler began acquiring the business, Coca-Cola’s 1893 annual report indicated that the beverage was sold in every state and territory in the Union.
Under his leadership, sales grew nearly tenfold by 1892. Decades later, the company changed hands.
In 1919, Candler sold The Coca-Cola Company to a group of investors led by Ernest Woodruff for $25 million.
According to historical accounts, Woodruff used Coca-Cola’s written secret formula as collateral for a bank loan to help finance the acquisition.
After the loan was repaid in 1925, the formula was transferred from a New York bank vault to one in Atlanta.
On Dec. 8, 2011, Coca-Cola moved the formula to a secure vault exhibit at the World of Coca-Cola in Atlanta.
Today, The Coca-Cola Company maintains its iconic status as a multibillion-dollar global beverage company.
Related: In 1958, Vince DeDomenico turned a family rice pilaf recipe into Rice-A-Roni; 28 years later, his family sold the company to Quaker Oats for $300 million
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