Coca-Cola completes Costa acquisition
Coca-Cola has completed the acquisition of Costa Limited from Whitbread PLC, which was first announced on August 31 last year,
The US$4.9 billion transaction follows approval from regulatory authorities in the European Union and China.
Costa has operations in more than 30 countries, giving Coca-Cola a significant footprint in the global coffee business. The existing Costa Express vending system also provides 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,” said James Quincey, CEO of The Coca-Cola Company.
“Our vision is to use the strong Costa platform to expand our portfolio in the growing coffee category.”
Alison Brittain, Whitbread Chief Executive wished “friends and colleagues at Costa all the very best for their future success.”
“Whitbread acquired Costa 23 years ago, when it had only 39 shops. Costa has grown to become a leading, international coffee brand, and Coca-Cola is the right partner to take Costa to the next stage of expansion,” Brittain added.