Coca-Cola Co. sold two units to an investor group.

The company said it gained $38 million from the sale of Winkler-Flexible Products and Presto Products. Winkler is based in Los Angeles and makes plastic cutlery and straws. Presto is based in Appleton, Wis., and makes plastic bags and wrap. The units were sold to an investment group headed by E. O. Gaylord. Terms of the sale were not disclosed.