The Coca-Cola Co. has reached a definitive agreement to acquire global coffee company Costa Ltd. from its parent, Whitbread PLC. The $5.1 billion acquisition will give Coca-Cola a strong coffee platform across parts of Europe, Asia Pacific, the Middle East, and Africa, with the opportunity for expansion. The acquisition will include nearly 4,000 retail outlets with trained baristas, a coffee vending operation, for-home coffee formats, and Costa's roaster.
Costa is the leading coffee company in the U.K. by location and has a growing footprint in China, among other markets. The retailer also has a strong presence with Costa Express, which offers multiple on-the-go concepts, including in gas stations, movie theaters, and travel hubs.
By acquiring Costa, Coca-Cola will expand its existing coffee lineup, which includes the Georgia brand in Japan, as well as coffee products in other countries. The acquisition will also provide Coca-Cola with expertise in the coffee supply chain, including sourcing, vending, and distribution. The deal is expected to close in the first half of 2019.
Related: Starbucks Test Less Sugary Frapuccino; Bellwether Coffee Raises $10M.
from Industry Operations https://ift.tt/2oCMk0H
No comments: