Coca-Cola, the US beverage giant, has expanded its position in the global coffee market by acquiring London-based Costa Limited International Ltd. for $ 5.1 billion from UK-based Whitbread PLC.
Coca-Cola president and CEO James Quincy said Costa would be able to give Coca-Cola new coffee capabilities and expertise, and our system could create opportunities for the growth of the Costa brand worldwide. He added that hot drinks are one of the few parts of the total beverage area where Coca Cola does not have an international brand and therefore Costa allows us to reach this market through a strong coffee platform.
Costa has approximately 4,000 retail outlets in more than 30 countries in Europe, Asia Pacific, Middle East and North Africa. The coffee brand has a strong presence in the UK and has been rated as the country's favorite cafe for eight consecutive years, according to information provided by Coca-Cola.
