Coca-Cola takes plunge into coffee with $5.1 billion Costa deal
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Starbucks Corp (SBUX) Ticks Lower as Coke (KO) Enters Coffee Market With Deal to Acquire Costa
August 31, 2018 6:30 AM EDTStarbucks Corp (NASDAQ: SBUX) ticks modestly lower (-0.56%) in pre-open trade after Coca-Cola (NYSE: KO) agreed to acquire coffee brand Costa Limited for $5.1 billion.
... MoreCoca Cola (KO) to Acquire Costa Limited from Whitbread PLC for $5.1B
August 31, 2018 5:42 AM EDTThe Coca-Cola Company (NYSE: KO) today announced that it has reached a definitive agreement to acquire Costa Limited, which was founded in London in 1971 and has grown to become a major coffee brand across the world.
The acquisition of Costa from parent company Whitbread PLC is valued at $5.1 billion and will give Coca-Cola a strong coffee platform across parts of Europe, Asia Pacific, the Middle East and Africa, with the opportunity for additional expansion. Costa operations include... More
