Costa Coffee Up For Grabs? Coca-Cola Considers Selling Chain!
Coca-Cola is reportedly considering selling its Costa Coffee chain, but potential bidders aren't exactly rushing to the table with huge offers. Sources say that some initial bids have been submitted, but the values are significantly lower than what Coca-Cola paid for Costa back in 2021. Apollo Global Management, which initially showed interest, decided not to submit a bid at all.
Why the Lukewarm Interest?
One of the reasons for the lower valuations might be that Coca-Cola intends to keep control of Costa's ready-to-drink products, the ones you find in supermarkets. This limits the scope of the potential acquisition, making it less attractive to some buyers.
What's Next for Costa Coffee?
It's unclear if Coca-Cola will proceed with a sale at the current proposed prices. They might decide to hold onto the chain and continue to operate it themselves. Costa Coffee has a significant global presence with thousands of stores worldwide and a large workforce. The coffee chain's future remains uncertain as Coca-Cola weighs its options.
- Costa Coffee has over 2,000 stores in the UK.
- The chain has over 3,000 stores globally.
- Costa employs approximately 35,000 people worldwide.
Stay tuned for more updates on the potential sale of Costa Coffee and what it means for coffee lovers in South Africa and beyond!