Coca-Cola prepares to sell the largest coffee shop chain in Britain, despite potential multi-billion losses – SkyNews

Coca-Cola is preparing to sell Costa, the UK’s largest coffee shop chain, more than six years after acquiring the business, with the aim of reducing its reliance on sugary soft drinks. This was reported by Sky News, citing its own sources, according to UNN.

DetailsIt is noted that Coca-Cola is working with the banking sector to conduct preliminary negotiations regarding the sale of Costa.

Initial talks have already been held with a small number of potential buyers, including private equity firms

Investment bank Lazard was engaged by the company to analyze business development options and assess the interest of potential buyers. Indicative offers are expected to be submitted in early autumn, although one source cautioned that Coca-Cola may still decide not to proceed with the sale.

Costa operates over 2,000 stores in the UK and over 3,000 worldwide. The company employs 35,000 people globally

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The media indicates that the sale could result in multi-billion pound losses, amounting to £3.9 billion, which Coca-Cola agreed to pay for the acquisition of Costa from Whitbread, the owner of the Premier Inn hotel chain listed on the London Stock Exchange, in 2018. According to sources, Costa may now be worth only £2 billion in the sale process.

The publication adds that hot beverages are one of the few segments of the overall beverage market where Coca-Cola does not have a global brand. At the same time, reports show that in 2023 – the last year for which separate results are available – the coffee chain recorded revenue of £1.22 billion.

RecallUS President Donald Trump stated that he convinced Coca-Cola to use cane sugar instead of corn syrup in beverages for the American market. This initiative is part of the Trump administration’s “Make America Healthy Again” program.

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