Overview

• Coca-Cola has engaged Lazard and begun preliminary discussions with potential buyers, including private equity firms.
• Indicative offers are expected in early autumn, and the company may ultimately decide against a sale.
• Analysts suggest Costa might be valued near £2bn, well below the £3.9bn Coca-Cola paid in 2019.
• Companies House filings show Costa generated £1.22bn in revenue and a £9.6m loss in 2023, while operating more than 2,000 UK stores and well over 3,000 globally.
• Filings indicate Costa has paid over £250m in dividends to Coca-Cola since the acquisition, and CEO James Quincey recently said the company is reassessing its approach to coffee.