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1-min read

Britain's Whitbread to Sell Costa Coffee to Coke For $5.1 Billion

The deal was unanimously agreed by the Whitbread board to be in the best interests of shareholders, the company said in a statement.

Reuters

Updated:August 31, 2018, 12:03 PM IST
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Britain's Whitbread to Sell Costa Coffee to Coke For $5.1 Billion
Cappuccinos sit on a table in Costa Coffee in Loughborough, Britain April 25, 2018. (Reuters)
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Britain's Whitbread Plc said on Friday it had agreed to sell coffee chain Costa to Coca Cola for an enterprise value of 3.9 billion pounds ($5.1 billion).

The deal was unanimously agreed by the Whitbread board to be in the best interests of shareholders, the company said in a statement. It acquired the chain in 1995, for 19 million pounds when it had only 39 shops.

($1 = 0.7679 pounds)

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