logo
Plus   Neg
Share
Email

Coca-Cola Completes Acquisition Of Costa - Quick Facts

Coca-Cola Co. (KO) said Thursday that it has completed the acquisition of coffee brand Costa Limited from British hotel, coffee shop and restaurant company Whitbread PLC (WTB.L).

The $4.9 billion transaction follows approval from regulatory authorities in the European Union and China. The acquisition was first announced by Coca-Cola on August 31, 2018.

Coca-Cola noted that Costa, which has operations in more than 30 countries, gives the company a significant footprint in the global coffee business. Worldwide, the coffee segment is growing 6 percent annually.

Costa has a scalable platform across multiple formats and channels, from the existing Costa Express vending system to opportunities to introduce ready-to-drink products.

"We see great opportunities for value creation through the combination of Costa's capabilities and Coca-Cola's marketing expertise and global reach. Our vision is to use the strong Costa platform to expand our portfolio in the growing coffee category," said James Quincey, CEO of Coca-Cola.

For comments and feedback contact: editorial@rttnews.com

Follow RTT