The Coca-Cola Company are undeniably known for their iconic carbonated soft drink, however, now it looks like they might just be shifting their focus elsewhere as consumers have continued to swap out fizzy drinks for coffee.
Specifically, Coca-Cola has just agreed on a deal with Whitbread – the company that owns Costa – in which the chain will become theirs for the price of £3.9 billion, consequently increasing Whitbread’s stock price by 14.6% overnight. This, however, is also a strong move from Coca-Cola as the coffee chain now owns over 4000 retail spaces globally and are seen as the main competitors of Starbucks.

 

As for what Coca-Cola had to say about the deal, the company’s president and CEO, James Quincey, stated: “Costa gives Coca-Cola new capabilities and expertise in coffee, and our system can create opportunities to grow the Costa brand worldwide.” Adding: “Hot beverages is one of the few segments of the total beverage landscape where Coca-Cola does not have a global brand. Costa gives us access to this market with a strong coffee platform.”

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