Coca-Cola buys Costa Coffee for £3.9bn

Costa Coffee.

Beverage giant Coca-Cola has bought the largest coffee shop chain in Britain, Costa Coffee for £3.9 billion (USD 5.78 billion). 

Whitbread, which also owns the Premier Inn hotel chain, had been planning to demerge Costa, but said the Coca-Cola arrangement offered a far higher price. 

CEO of Coca-Cola, James Quincey, said that Costa Coffee would open the doorway for the company to enter a new market and is going to bring a revolution to the caffaine market. 

Established in 1995, Costa Coffee now have 2,400 outlets worldwide. A branch of Costa Coffee is also set to be opened in the Maldives at Velana International Airport.