Coca‑Cola explores sale of Costa coffee chain
The US drinks giant has instructed bankers to gauge interest in its UK‑founded coffee business.
Sky News revealed that Coca‑Cola, which bought Costa Coffee for £3.9 billion in 2018, has hired investment bank Lazard to examine options for selling the chain:contentReference[oaicite:5]{index=5}.
Potential bidders include private‑equity firms, and industry sources estimate a sale could raise around £2 billion, crystallising a loss for Coca‑Cola because Costa’s revenue has not recovered to pre‑pandemic levels:contentReference[oaicite:6]{index=6}.
Costa operates more than 2,000 outlets in the UK and over 3,000 worldwide, but 2023 revenue of £1.22 billion was lower than when it was acquired.
A sale would mark the end of Coca‑Cola’s brief ownership of the high‑street coffee giant.
Potential bidders include private‑equity firms, and industry sources estimate a sale could raise around £2 billion, crystallising a loss for Coca‑Cola because Costa’s revenue has not recovered to pre‑pandemic levels:contentReference[oaicite:6]{index=6}.
Costa operates more than 2,000 outlets in the UK and over 3,000 worldwide, but 2023 revenue of £1.22 billion was lower than when it was acquired.
A sale would mark the end of Coca‑Cola’s brief ownership of the high‑street coffee giant.
