Coca-Cola looks to sell Costa Coffee, Semafor reports

Cappuccinos sit on a table in Costa Coffee in Loughborough, Britain April 25, 2018.

Cappuccinos sit on a table in Costa Coffee in Loughborough, Britain April 25, 2018. (REUTERS/Darren Staples/File Photo)


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Oct 8 — Coca-Cola is seeking to unwind its $5 ​billion acquisition of British coffeehouse Costa Coffee after a sales process failed ‌earlier this year, Semafor reported on Thursday, citing ⁠people familiar with ​the matter.

Here are ⁠some more details:

• Coca-Cola had scrapped ‌its plans ‌to sell Costa earlier this year after ⁠the offers ⁠from private equity firms came in below expectations, the Financial Times reported in January.

• The beverage giant acquired Costa in 2018 for $5.1 billion in an ‌effort to extend its ​push into healthier drinks.

• At least one strategic acquirer mulled what a deal for Costa would look like before passing due to valuation and strategic issues, the Semafor report added.

• Coca-Cola ​did not immediately respond to a ‌request for ‌comment

• ⁠It could not be determined what price Coca-Cola might seek for Costa if it were to put the coffee chain ‌back on the ​market, the report ‌added.

(Reporting by Angela ⁠Christy ​in Bengaluru; Editing by Shilpi Majumdar and Anil ​D'Silva)

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