Coca-Cola Bottling Co. Consolidated reported on Tuesday third-quarter earnings that beat Wall Street expectations, as a result of sales growth, the leveraging of selling, delivery and administrative expenses, and acquisitions.

The Charlotte-based soft drink bottler reported net income per share of $2.45 for the quarter, compared to $2.05 per share or the same period last year, a 19.5 percent increase, according to a filing with the Securities and Exchange Commission.

Analysts had estimated the quarter’s earnings per share of $2.28, according to The Wall Street Journal.

The company reported third-quarter sales of $849 million, a 37.2 percent increase compared to the third quarter of 2015. The company attributed the rise to acquisitions and a 4.1 percent increase in sales.

“We continue to invest in our beverage portfolio to drive growth across all beverage categories which is reflected in modest growth in our sparkling beverages and strong growth in our still beverage portfolio,” said Hank Flint, president and chief operating officer.

Headquartered in Charlotte, Coca-Cola Bottling is the largest independent Coca-Cola bottler in the United States, carrying more than 300 brands and flavors across 16 states.

Shares of Coca-Cola Bottling closed at $141.27 on Tuesday, a 90-cent increase compared to the previous trading day.

The complete third-quarter earnings report and press release can be found here.