Whitbread has agreed to sell Costa Coffee to Coca-Cola in a deal worth £3.9bn that will give the American company 2,400 UK coffee shops.
Costa is the UK’s biggest coffee chain and is the first acquisition in the sector for Coca-Cola, adding to the NYSE-listed company’s $87.9bn assets under management. The transaction is expected to close in H1 2019.
Alongside its UK stores, Costa has 1,400 outlets across 31 countries in Europe, Asia and the Middle East (EMEA) and Costa Express has 8,237 vending machines worldwide.
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