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Coca-Cola buys coffee chain Costa for 3.9 billion pounds

AFP
Published : Aug 31, 2018, 12:35 pm IST
Updated : Aug 31, 2018, 12:35 pm IST

Hot beverages is one of the few remaining segments of the total beverage landscape where Coca-Cola does not have a global brand.

Coca-Cola on Friday said it had agreed to buy global coffee chain Costa from its owner Whitbread for 3.9 billion pounds (USD 5.1 billion). (Photo: AP)
 Coca-Cola on Friday said it had agreed to buy global coffee chain Costa from its owner Whitbread for 3.9 billion pounds (USD 5.1 billion). (Photo: AP)

London: Coca-Cola on Friday said it had agreed to buy global coffee chain Costa from its owner Whitbread for 3.9 billion pounds (USD 5.1 billion).

"Hot beverages is one of the few remaining segments of the total beverage landscape where Coca-Cola does not have a global brand. Costa gives us access to this market through a strong coffee platform," Coca-Cola chief executive James Quincey said in a joint statement.

Tags: coca-cola, coffee chain, costa, whitbread, james quincey
Location: United Kingdom, England, London