Post-acquisition, Great Plains will become an operating unit within Coca-Cola Refreshments, a Coca-Cola wholly owned subsidiary.
Coca-Cola hopes to close the deal by the end of 2011.
Last year, Coca-Cola completed the acquisition of the North American operations of its bottler Coca-Cola Enterprises for $12.3bn.
Great Plains is the fifth-largest independent Coca-Cola bottler in the US and has territories in Oklahoma and Arkansas.
Earlier this month, Coke reported an 8.1% rise in Q3 earnings, which was led by growth in drinks sales in each region and price hikes in the North American market.