The Coca Cola Company has signed an agreement to acquire the leading coffee company in the United Kingdom Costa Ltd. for $5.1 billion.
Coca-Cola acquired Costa from Whitbread PLC, which bought the company from Costa’s founders in 1995 for £19m.
The movement will give to Coca-Cola a strong coffee platform with around 4,000 retail outlets, a coffee vending operation, for-home coffee formats and Costa’s state-of-the-art roastery, across parts of Europe, Asia Pacific, the Middle East and Africa, according to company statement.
“The Costa team and I are extremely excited to be joining The Coca-Cola Company,” said Costa Managing Director Dominic Paul. “Costa is a fantastic business with committed and passionate associates, a great track record and enormous global potential. Being part of the Coca-Cola system will enable us to grow the business farther and faster”.
Source: The Coca Cola Company