Coca-Cola is reported to be restarting efforts to sell Costa Coffee, its British coffeehouse chain, after an earlier sales process did not produce satisfactory offers. Multiple outlets cite reporting by Semafor, which says Coca-Cola is reviving a plan to unwind its roughly $5 billion acquisition of Costa.
Context comes from the earlier attempt earlier this year, when offers from private equity firms came in below expectations. Some potential strategic buyers also explored what a deal could look like but ultimately passed, citing valuation and strategic concerns. Coca-Cola acquired Costa in 2018 for about $5.1 billion as part of a broader push into drinks and categories beyond its core portfolio. The outlets also note that it was not clear what price Coca-Cola would seek in a new process, and the company did not provide immediate comment in the reports.
While at least one outlet frames the story around Costa’s competitive position in the UK coffee market, the underlying reporting across sources centers on Coca-Cola’s corporate action—consideration of a new sale after the first process failed.
