• Saturday, August 13, 2022

Business

Coca-Cola to Buy Coffee Chain Costa from Britain’s Whitbread Plc for £3.9 billion

Coca-Cola to Buy Coffee Chain Costa from Britain’s Whitbread Plc for £3.9 Billion .

By: Radhakrishna N S

Britain’s Whitbread Plc has agreed to sell its world’s second largest coffee chain Costa to Coca-Cola Co for an enterprise value of £3.9 billion, said in a statement on Friday (31). The new deal is expected to pave a new way for Coca-Cola Co to move ahead with the new front, other than its traditional sodas. Coca-Cola Co is expected to get almost 4000 coffee outlets in the UK and other European countries, according to the deal struck unanimously by the Whitbread board understanding the best interest of the shareholders. Whitbread had been working to demerge its coffee business chain…

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