Coca-Cola in talks about potential cut-price £2bn sale of Costa Coffee | Coca-Cola

Costa Coffee can change hands again after it turns out that Coca-Cola has met potential buyers to discuss an agreement to empty the chain.

The American soft drink company is said to have worked with bankers in a study that may lead to the sale of Costa, the largest coffee chain of England.

When Coca-Cola bought the owner of the Premier Inn Hotel chain in 2018 for £ 3.9 billion, they had high hopes for the Costa brand. However, the chain fought with increasing costs, at least the increase in coffee seed prices and increasing street competition.

According to city analysts, Costa’s sale can make a billions of pounds loss for Coca-Cola. One told Sky News, which first informed the sales talks, that it could only bring £ 2 billion, which will be almost half of what he pays for the job.

Coca-Cola’s General Manager James Quincey said that Costa was “not fully delivered” to investors last month and that “where we want to be in terms of investment hypothesis”.

He added that the work was çalışma Reflecting what we have learned and thinking about how we might want to find new ways to grow in the coffee category ”.

According to Sky News, referring to anonymous sources, Coca-Cola is said to have met with a small number of possible bids, including private capital companies.

Investment Bank Lazard reportedly helps Coca-Cola to review the options for the chain and measure the interest of buyers. Although the report states that the beverage manufacturer may decide not to continue the sale, preliminary bids are expected.

Costa has more than 2,000 and 18,000 employees in the UK. However, in addition to increasing costs, he faced competition from luxury competitors such as Pret A Manger and Gail’s.

Costa increased from 9% to £ 1.2 billion in 2023 financially in the Companies House, compared to the previous year, compared to the previous year. However, the previous year, compared to £ 245.9 million snow, reportedly reported damage to £ 9.6 million. Costa accused the loss of inflationary prints and writing on the value of some investments.

Founded in 1971 by the Italian brothers Sergio and Bruno Costa, Costa was sold to Whitbread in 1995 for 19 million pounds. When Coca-Cola bought the job, Quincey said that there were “great opportunities for creating value”.

Although Costa’s financial performance was mixed, it paid £ 85 million to its owner last year.

Coca-Cola and Lazard were approached for a comment.