Coffee grew 11% for the quarter and 13% for the year, primarily driven by cycling the impact of pandemic-related Costa® retail store closures in the United Kingdom in the prior year and the continued expansion of Costa® coffee across markets. Tea declined 9% for the quarter and grew 1% for the year.
Coke's largest and most recent deal was the $5 billion acquisition of Costa Coffee. This transaction gives Coke meaningful exposure to the global coffee market for the first time.
The other major competitor of PEP has also moved in that direction, with the nearly $5bn strategic acquisition of Costa Coffee. Source: Coca-Cola Q3 2020 Earnings Presentation
Summary. Coca-Cola, the world's second-largest beverage company, remains a strong investment option with a market cap of $260.99 billion and a history of increasing dividend payouts.
The acquisition was announced by both Coca-Cola and Costa Coffee's parent company, Whitbread, in 2018. It effectively took place in the first half of 2019, for a reported $5.1 billion (via Coca-Cola).
The price of Costa Coffee doesn’t make a dent in Coca-Cola’s $191 billion valuation but it is one of its most significant acquisitions. Although Coca-Cola can often be considered as a self-propelling behemoth, the company has been losing its fizz over recent years and its prospects have been going flat.
Costa Coffee. Costa Coffee is a British multinational coffee brand. It is the second largest coffee shop chain in the world and the largest in the UK. Its acquisition by Coca-Cola in 2019 propelled Costa into a truly global brand with locations in 41 countries. UXCam features used:
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