Coca-Cola announced Friday that it had reached an agreement with Britain's Whitbread to buy the Costa Coffee chain for 3.9 billion pounds ($ 5.1 billion) to become the world's first brand of hot drinks.
The deal was completed at a time when the soft drinks sector is declining due to health and obesity concerns in the United States and other markets.
The deal will allow the British company to reduce its debt and strengthen the pension fund and will allow the expansion of the hotel brand "Premier Inn".
The company bought the Costa chain in 1995 from its founders Sergio and Bruno Costa, and now operates around 2,400 coffee shops in Britain and about 1,400 around the world.
Buying Costa's 4,000 outlets will boost the world's largest carbonated beverage company in one of the few sectors of the food and beverage industry that is experiencing a slowdown.
The deal was completed at a time when the soft drinks sector is declining due to health and obesity concerns in the United States and other markets.
The deal will allow the British company to reduce its debt and strengthen the pension fund and will allow the expansion of the hotel brand "Premier Inn".
The company bought the Costa chain in 1995 from its founders Sergio and Bruno Costa, and now operates around 2,400 coffee shops in Britain and about 1,400 around the world.
Buying Costa's 4,000 outlets will boost the world's largest carbonated beverage company in one of the few sectors of the food and beverage industry that is experiencing a slowdown.
source
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