Coca-Cola Co. (NYSE: KO) is reportedly exploring the sale of its Costa Coffee business, according to a report from Semafor. The beverage giant has initiated a process to find a buyer for the coffee chain, which it acquired in 2019 for approximately $5.1 billion.
The move comes as part of a broader strategic review by the company to streamline its portfolio of non-core assets. Coca-Cola has been actively divesting businesses that do not align with its primary focus on carbonated soft drinks and water. The company has previously sold other brands, including its stake in Monster Beverage Corporation and its North American sparkling water business, Topo Chico.
Costa Coffee operates over 4,000 locations globally, primarily in the United Kingdom, with a significant presence in China and other international markets. The company is a major player in the coffee shop sector and has been a key growth driver for Coca-Cola since the acquisition.
