Coca-Cola CEO on coffee strategy: We're not going head to head with Starbucks [CNBC]
Starbucks Corporation (SBUX)
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Source: CNBC
show chapters Coca-Cola's $5.1 billion acquisition of U.K. coffee chain Costa was less of an effort to take on giants like Starbucks than a move to create a new type of coffee experience, Coca-Cola President and CEO James Quincey tells CNBC. To Quincey, who joined Jim Cramer for an exclusive interview Friday, the coffee industry has split into three overarching parts: the ready-to-drink piece, the at-home segment and immediate consumption at coffee shops. The biggest piece is in immediate consumption channels. And, actually, while coffee shops exist, the biggest piece is the rest, Quincey said on Mad Money. Helping other customers have a store in a store and executing coffee within other people's outlets is a big opportunity for them, and I think there's a lot of white space to do a lot better around the world. Coca-Cola, a $213 billion beverage maker, was criticized by some for paying too much for Costa, a former Whitbread subsidiary wi
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