Hires Root Beer label painted over Coca Cola Crate?!

I found this today in the city I currently live, however, it caught my eye since it was from Ludington, MI my home city. At first glance, it's just a pretty blue shade with a HIRES Root Beer stenciled label on it...until you see the chipping paint and the inside printed Coca Cola! It must have been a Coca Cola crate first and possibly the distributor LUX Food Products Co. on East Ludington Avenue of Ludington, MI had repurposed it to show a new brand. This has to date pre-1946, since that year was when the LUX Co. discontinued production plant sales. I love it and it's in great vintage condition! Has anyone else seen re-painted crates like this from distributors? Was this something done often?