Overview

• The review is at a preliminary stage, with early discussions held with a small number of potential bidders including private equity firms, and a sale is not guaranteed.
• Analysts suggest Costa could fetch around £2bn versus the £3.9bn paid in 2018/19, crystallising a multibillion‑pound loss for the parent.
• Costa’s latest available accounts show 2023 revenue of £1.22bn and a pre‑tax loss of £9.6m, citing inflationary pressures and investment impairments.
• The chain operates more than 2,000 stores in the UK and well over 3,000 globally, alongside a network of thousands of Costa Express vending machines.
• CEO James Quincey has said the business has “not quite delivered,” while Coca‑Cola did not respond to requests for comment and Lazard declined to comment.