Warren Buffett and Value Investing discussion

It's always great to read about the brand that is Coca-Cola in context of the world of value investing and Warren Buffett. Certainly, Robert Hagstrom does not let us down as Coke is written about on 25 pages of "The Warren Buffett Way".

In 2003, "the company was selling over 19 billion cases of soft drink in more than 200 countries, generating $22 billion a year in sales." Hagstrom, p 69

Coke started in the 1880s and is still selling the same beverage product, (albeit with some changes) 120 year later. The company has a world-class distribution system and an unbeatable "moat" in its brand which includes the names of Coca-Cola, Diet Coke, Sprite, Mello Yello, Dasani, Minute Maid and Powerade.

According to Hagstrom, the business is "relatively simple" and involves using commodity inputs to manufacture a concentrate which is sold to bottlers, combined with other ingredients and sold to "mini-marts, supermarkets and vending machines." Coke also produces a syrup which is sold to fountain retailers.

What books about Coca-Cola have you found worthwhile and interesting? Do you think Coke is a good investment, brand and/or company? Any other related investment tidbits you would like to share on Coca-Cola?