Coca-Cola expands into coffee with $5.1 billion deal for Britain's Costa Coffee
Updated : August 31, 2018 12:09 PM IST
Whitbread said in a statement on Friday that the deal, which will give Coke almost 4,000 coffee outlets in the UK and across Europe, had been agreed unanimously by the Whitbread board as in the best interests of shareholders.
Whitbread, which had been in the process of demerging its coffee business from its hotel chain, acquired Costa in 1995 for 19 million pounds when it had only 39 shops.
For Coca-Cola, the deal adds to its efforts to move away from fizzy drinks towards more healthier options for increasingly health-conscious consumers.