Coca-Cola expands into coffee with $5.1 billion deal for Britain's Costa
Coca-Cola expands into coffee with $5.1 billion deal for Britain's Costa

Coca cola Co has sent his approval to buy one of the largest coffee chain Costa from Britain’s Whitebread with overall valuation of 3.9 billion pounds( $5.1 billion) as reported in leading media resources.

Coca-Cola Co has agreed to buy the world's second largest coffee chain Costa from Britain's Whitbread Plc for an enterprise value of 3.9 billion pounds ($5.1 billion), opening a new front in its push away from traditional sodas.

Whitbread said in a statement on Friday that the deal, which will give Coke almost 4,000 coffee outlets in the UK and across Europe, had been agreed unanimously by the Whitbread board as in the best interests of shareholders.

Whitbread, which had been in the process of demerging its coffee business from its hotel chain, acquired Costa in 1995 for 19 million pounds when it had only 39 shops.

( Source: Reuters)

 

 
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