Coca-Cola acquisition of Costa Coffee chain gets EU approval
The deal is said to be worth $4.9 billion. The acquisition was first announced in August, 2018.
Published - Jan 4, 2019 6:56 PM Updated: Jan 4, 2019 6:56 PM
The European Union has given approval for the sale of Costa Coffee chain to US drinks maker Coca-Cola Co from British restaurant and hotel owner Whitbread Plc, according to media reports.
The deal is said to be worth $4.9 billion. The acquisition plan was first announced in August, 2018. Costa has operations in more than 30 countries across the world.
Media reports quoted James Quincey, CEO of The Coca-Cola Company, as saying that they “see great opportunities for value creation through the combination of Costa’s capabilities and Coca-Cola’s marketing expertise and global reach.”
Alison Brittain, Whitbread Chief Executive Officer, reportedly wished “all friends and colleagues at Costa all the very best for their future success.”
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