The deal has secured the approval of regulatory bodies in the EU and China. Now Costa, which has operations in more than 30 countries, gives The Coca-Cola Company a significant footprint in the global coffee business.
The Coca-Cola Company’s chief executive James Quincey said: “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.”
Worldwide, the coffee sector is growing at six per cent annually 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, he added.
- Pictured: Whitbread chief executive Alison Brittain.
Whitbread, whose headquarters are at Houghton Hall in Dunstable, acquired Costa 23 years ago when the brand 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,” said Whitbread chief executive Alison Brittain.
“We wish our friends and colleagues at Costa all the very best for their future success.”