The Coca-Cola Company Completes Acquisition of Costa from Whitbread PLC
The Coca-Cola Company today announced that it has completed the acquisition of Costa Limited from Whitbread PLC. The $4.9 billion transaction follows approval from regulatory authorities in the European Union and China.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190103005331/en/
The acquisition was first announced on Aug. 31, 2018.
Costa, which has operations in more than 30 countries, gives Coca-Cola a significant footprint in the global coffee business. Worldwide, the coffee segment is growing 6% annually. Costa has a scalable platform across multiple formats and channels, from the existing Costa Express vending system to opportunities to introduce ready-to-drink products.
“We see great opportunities for value creation through the combination of Costa’s capabilities and Coca-Cola’s marketing expertise and global reach,” said James Quincey, CEO of The Coca-Cola Company. “Our vision is to use the strong Costa platform to expand our portfolio in the growing coffee category.”
“We wish our friends and colleagues at Costa all the very best for their future success,” said Alison Brittain, Whitbread Chief Executive. “Whitbread acquired Costa 23 years ago, when it had only 39 shops. Costa has grown to become a leading, international coffee brand, and Coca-Cola is the right partner to take Costa to the next stage of expansion.”
For more information, see the original announcements about the transactions:
- Coca-Cola press release: https://www.coca-colacompany.com/press-center/press-releases/coca-cola-to-acquire-costa
- Coca-Cola investor presentation: https://s22.q4cdn.com/984101753/files/doc_presentations/2018/02.-Presentation-FINAL.pdf
- Whitbread press release: https://www.whitbread.co.uk/media/press-releases/2018/31-08-2018
About The Coca-Cola Company
The Coca-Cola Company (NYSE: KO) is a total beverage company, offering over 500 brands in more than 200 countries and territories. In addition to the company’s Coca-Cola brands, our portfolio includes some of the world’s most valuable beverage brands, such as AdeS soy-based beverages, Ayataka green tea, Costa coffee, Dasani waters, Del Valle juices and nectars, Fanta, Georgia coffee, Gold Peak teas and coffees, Honest Tea, innocent smoothies and juices, Minute Maid juices, Powerade sports drinks, Simply juices, smartwater, Sprite, vitaminwater and ZICO coconut water. We’re constantly transforming our portfolio, from reducing sugar in our drinks to bringing innovative new products to market. We’re also working to reduce our environmental impact by replenishing water and promoting recycling. With our bottling partners, we employ more than 700,000 people, helping bring economic opportunity to local communities worldwide. Learn more at Coca-Cola Journey at www.coca-colacompany.com and follow us on Twitter, Instagram, Facebook and LinkedIn.
The fairlife® brand is owned by fairlife LLC, our joint venture with Select Milk Producers Inc. Products from fairlife are distributed by our company and certain of our bottling partners.
About Whitbread PLC
Whitbread PLC is the owner of the UK’s favourite hotel chain, Premier Inn, as well as restaurant brands, Beefeater, Brewers Fayre, Table Table and Bar + Block.
Whitbread employs over 35,000 people in over 1,200 Premier Inn hotels and restaurants across the UK, serving over five million customers every month. Premier Inn currently operates one hotel in Frankfurt with plans to grow the brand to over 30 hotels in Germany by 2020/21.
At Whitbread we are committed to being a force for good in the communities in which we operate. Our Sustainability programme, ‘Force for Good’ is focused on enabling people to live and work well and is built around three pillars of Opportunity, Community and Responsibility.
In the year ended 2 March 2018, Whitbread PLC reported an 6.1% increase in Group Revenue to £3.3 billion and Underlying Profit before tax of £591 million up 4.5%*.
Whitbread PLC is listed on the London Stock Exchange and is a constituent of the FTSE 100. It is also a member of the FTSE4Good Index.
*these figures include revenue and profits from the previously held Costa business
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
- Media: Scott Leith, +1 404.676.8768
- Investors and Analysts: Tim Leveridge, +1 404.676.7563
- Media: Esme Knight, +44 (0) 7885 822 964
- Media: Anna Glover, +44 (0) 7768 917 651
- Investors and Analysts: Matt Johnson, +44 (0) 7848 146 761
About Business Wire
(c) 2018 Business Wire, Inc., All rights reserved.
Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Technology Holdings advises ServiceNow Elite Partner Unifii on its strategic sale to Bain Capital backed Inetum6.12.2023 19:55:00 CET | Press release
Technology Holdings, a global investment bank with offices in North America, Europe and the Asia-Pacific is pleased to announce that it has acted as the exclusive financial advisor to London headquartered Elite ServiceNow partner, Unifii on its strategic sale to Bain Capital backed Inetum, which is headquartered in France. Unifii is the largest independent Elite ServiceNow partner in the United Kingdom and Ireland, and is recognized for its unparalleled expertise in supporting clients through their digital transformation journeys. Unifii enables its clients to achieve successful business outcomes through optimized business workflows. Unifii has a recognized customer ecosystem in multiple sectors, including finance, technology, and the public sector. Its team of certified experts and experienced consultants brings undeniable value to its clients’ national and international projects. With the acquisition of Unifii, Inetum becomes a leading European partner for ServiceNow with nearly 500
Edgio’s Group Vice President of EMEA, Emma Whitmore, to Join the Digital TV Group (DTG) Council6.12.2023 17:00:00 CET | Press release
Edgio, Inc. (Nasdaq: EGIO), the platform of choice for speed, security, and simplicity at the edge, today announced that Emma Whitmore, Group Vice President (GVP) of EMEA, is joining the DTG Council, an important industry steering group, to provide Edgio’s unique perspective and insight on the future of TV distribution. For over 25 years, DTG, the UK's unique, self-funding centre for innovation in digital media technology, has been central to driving digital TV innovation in the UK. The 25-strong member council brings together the best thinkers from across broadcasters, technology providers and manufacturers, including BT, BBC, ITV and Sony, to inform the work, policy and direction of the organisation. Powered by a secure global edge network designed for the unique demands of media, Edgio’s solutions allow companies to operate, monetize and securely deliver video content to millions of global viewers. “Given the wealth of knowledge that Emma brings from more than twenty years in the in
Mavenir CEO Welcomes Recognition of Open RAN Vendor Leadership in ABI Research Ranking6.12.2023 16:19:00 CET | Press release
Pardeep Kohli, CEO of Mavenir, the Network Software Provider building the future of networks with cloud-native solutions that run on any cloud, has today welcomed the new ranking by global technology intelligence company ABI Research that recognizes Mavenir as the leading vendor in Open Radio Access Network (Open RAN) solutions. In ABI Research’s detailed and independent Competitive Assessment vendor matrix, Mavenir tops all three ranking categories – market leadership, innovation and implementation. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20231206233989/en/ ABI Research Open RAN Vendor Ranking November 2023 (Graphic: Business Wire) Mavenir is classed as the leading innovator in the Open RAN space with an impressive score of 81.5 out of 100, while its achievement of 84.5 out of 100 in the implementation criteria reflects Mavenir’s central role in accelerating Open RAN deployments globally. These key rankings position Ma
GWI Appoints New Chief Technology Officer, Nick Dearden6.12.2023 15:00:00 CET | Press release
GWI, the global consumer research platform, today announced that it has appointed Nick Dearden as Chief Technology Officer, based in its UK headquarters in London. Nick has over 25 years of experience in technology, with his grassroots as a developer. At GWI he will lead the engineering, IT, and security teams and will be responsible for the company's technology and data management strategy. His role is key to driving forward the company’s agenda to build technology that gives people clarity over their audience in the moment they need it. Nick’s role will focus on the ongoing innovation, scaling, and automation of processes that underpin access to data representative of nearly 3 billion people across 50+ markets. With simplification and ease of access to GWI data a key strategic driver, Nick will be responsible for identifying appropriate technology, such as AI, to define the technology strategy to achieve this. This will enable the company to automate and unlock powerful new features
AnyQuest Improves Citizen Developer Productivity by Launching Low-code Platform for Generative AI6.12.2023 15:00:00 CET | Press release
AnyQuest, the enterprise AI enabler, today announced the availability of AnyQuest PyAQ, an open-source low-code platform for cognitive applications. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20231206364076/en/ Generative AI Cognitive apps can be deployed on AnyQuest and accessed from business applications and services with LLMs and plug-in tools. AnyQuest is an Enterprise AI enabler with an open-source, low-code development platform. (Graphic: Business Wire) Cognitive applications improve knowledge worker productivity by integrating generative AI with enterprise solutions for customer relationship management, marketing automation, enterprise resource planning, supply chain management, and many others. Unlike interactive GPT chatbots and copilots, cognitive applications can run entirely unattended. They do not sacrifice precision for speed and can run longer to process more data, use different types of larger AI models, or