(BUSINESS WIRE) The Coca-Cola Company today announced that it has completed the acquisition of Costa Limited from Whitbread PLC. The $4.9 billion transaction follows approval from regulatory authorities in the European Union and China. The acquisition was first announced on August 31, 2018.
Costa, which has operations in more than 30 countries, gives Coca-Cola a significant footprint in the global coffee business. Worldwide, the coffee segment is growing six percent 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.
The Coca-Cola Company currently offers over 500 brands in more than 200 countries and territories. Whitbread PLC is the owner of the UK-based hotel chain, Premier Inn, as well as the Beefeater, Brewers Fayre, and Bar + Block brands.