After announcing the deal last August, the Coca-Cola Company completed the acquisition of Costa Limited from Whitbread PLC for USD 4.9 billion.
Costa, which has operations in more than 30 countries, gives Coca-Cola a footprint in the global coffee business.
“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.”
“We wish our friends and colleagues at Costa all the very best for their future success,” said Alison Brittain, Whitbread Chief Executive. “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.”Add to Favorites