Coca-Cola drops plan to sell Costa Coffee
Photo: Reuters
Coca-Cola has canceled its planned sale of Costa Coffee after bids from private equity firms fell short of expectations.
The company reportedly ended talks with the final bidders in December, bringing an abrupt end to a months-long auction, the outlet said, citing people familiar with the process, News.Az reports, citing Reuters.
Coca-Cola acquired Costa Coffee in 2019 to expand its presence in the global coffee market. The chain operates thousands of stores and a large vending network across Europe, the Middle East and Asia.
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