<?xml version="1.0" encoding="utf-8"?>
<!--Generated by DFIN XBRL Instance Document - http://www.dfinsolutions.com/ - Version R3.0 - on 21-March-2025 [01:13:27] {AM}-->
<linkbase xmlns="http://www.xbrl.org/2003/linkbase" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns:xlink="http://www.w3.org/1999/xlink" xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd">
<roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedLabel" roleURI="http://www.xbrl.org/2009/role/negatedLabel" />
<roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedPeriodEndLabel" roleURI="http://www.xbrl.org/2009/role/negatedPeriodEndLabel" />
<roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedPeriodStartLabel" roleURI="http://www.xbrl.org/2009/role/negatedPeriodStartLabel" />
<roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedTotalLabel" roleURI="http://www.xbrl.org/2009/role/negatedTotalLabel" />
<roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedNetLabel" roleURI="http://www.xbrl.org/2009/role/negatedNetLabel" />
<roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedTerseLabel" roleURI="http://www.xbrl.org/2009/role/negatedTerseLabel" />
<roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/net-2009-12-16.xsd#netLabel" roleURI="http://www.xbrl.org/2009/role/netLabel" />
<labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
<loc xlink:type="locator" xlink:href="coke-20241231.xsd#coke_AddAverageServiceCostsAndPriorServiceCostsForORPMember" xlink:label="loc_coke_AddAverageServiceCostsAndPriorServiceCostsForORPMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_coke_AddAverageServiceCostsAndPriorServiceCostsForORPMember" xml:lang="en-US">Add Average Service Costs &amp; Prior Service Costs For ORP [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_coke_AddAverageServiceCostsAndPriorServiceCostsForORPMember" xlink:to="lab_coke_AddAverageServiceCostsAndPriorServiceCostsForORPMember" />
<loc xlink:type="locator" xlink:href="coke-20241231.xsd#coke_AverageOfTheAggregateChangeInActualPresentValueInORPMember" xlink:label="loc_coke_AverageOfTheAggregateChangeInActualPresentValueInORPMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_coke_AverageOfTheAggregateChangeInActualPresentValueInORPMember" xml:lang="en-US">Deduct Average Of The Aggregate Change In Actual Present Value In ORP [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_coke_AverageOfTheAggregateChangeInActualPresentValueInORPMember" xlink:to="lab_coke_AverageOfTheAggregateChangeInActualPresentValueInORPMember" />
</labelLink>
</linkbase>
