Coca-Cola Bought "Costa Сoffee" from Whitbread for $4.9 billion
OREANDA-NEWS Whitbread closed a deal to sell the Coca-Cola Company a network of Costa coffee businesses.
The amount of the transaction amounted to 3.7 billion pounds, said Whitbread ($4.9 billion, according to Coca-Cola). The deal was closed after obtaining permits from regulators in the EU and China, the buyer said.
Thanks to the deal, Coca-Cola will receive almost four thousand Costa coffee houses and enterprises for roasting and distribution of coffee beans.
Costa Coffee network appeared in the UK in 1971 and is currently the largest in the country. In 1995, Whitbread bought it for 19 million pounds, then the network consisted of only 39 coffee shops in the UK. In April 2018, Whitbread has allocated Costa Coffee in an independent company under pressure from minority shareholders-activists.
In 2018, the financial year ended March 1, Costa recorded revenue at 1.3 billion pounds, EBITDA - 238 million pounds.
In Russia the network of coffee houses Costa Coffee in 2008 develops "Rosinter RESTORANTS" ("Rosinter RESTORANTS holding") under the agreement of commercial concession.
At the initial stage, five coffee shops were opened, rebranded from its own brand "Rosinter" "Moka-Loka". By the autumn of last year, at the time of the announcement of the global deal, in the portfolio of "Rosinter restaurants" was 36 coffee shops.
In accordance with the Russian legislation, the terms of the commercial concession agreement do not change when the right holder is changed. Therefore, Rosinter restaurants plans to continue the development of the Costa Coffee chain in Russia in accordance with the concluded agreements and plans, Rosinter said.
Earlier this month, Pepsi paid $3.2 billion for SodaStream, a company that offers a product that allows users to make their own healthy fizzy drinks.