LONDON – With consumers consuming more and more of sugary soft drinks, Coca-Cola has found a new way to "serve them coffee."
The American Beverage Titan said Friday he wanted to buy Costa. one of the largest coffee chains in the world, for £ 3.9 billion or $ 5.1 billion.
Soda suppliers have been looking for new products for years as consumers' tastes have changed: PepsiCo, for example, has been focusing on healthier snack offerings and earlier this month agreed to buy SodaStream for $ 3.2 billion.
The deal brings Coke directly into a fierce battle in the coffee world that has so far been dominated by two food giants. One is Nestlé, which owns Nescafé and the high-end Blue Bottle chain. The other is JAB, the major European corporation that has added Peets Coffee, Caribou Coffee, Stumptown and more.