Coca-Cola ‘jettisons Costa Coffee sale plan' [Yahoo! Finance]
Coca-Cola Company (The) (KO)
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Source: Yahoo! Finance
The US giant is said to have held talks in recent months to offload Costa Coffee and is now reported to have abandoned the idea. According to The Financial Times , offers tabled by private-equity suitors have failed to meet Coca-Cola's expectations. Talks ended last month, unnamed sources told the publication. Just Drinks has approached Coca-Cola for comment. Coca-Cola has yet to comment directly on the reports it has been looking to offload Costa Coffee, although there have been regular reports suggesting discussions have been held with various private-equity houses. Coca-Cola acquired Costa Coffee for $5.1bn in 2018 as part of the Sprite brand owner's strategy to position itself as a “total beverage company”. Speaking to analysts in July after Coca-Cola reported its second-quarter financial results, CEO James Quincey was asked to reflect on the coffee market and the company's strategy in the sector. He remarked Coca-Cola's “investment in Costa is not where we wanted it to b
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