Coca-Cola wants to buy coffee chain Costa Coffee from British multinational drinks and hotels group Whitbread for £3.9 billion ($5.1 billion).
The acquisition could potentially be a big push for Coke’s expansion into the coffee market, with Costa Coffee’s nearly 4,000 stores across 32 countries including parts of Europe, Asia Pacific, the Middle East and Africa. Approval from shareholders and regulators are still pending on the deal, but it is expected to come through by 2019.
Coca-Cola’s foray into coffee follows the January merger of JAB’s coffee brand Keurig with Coke’s domestic competitor Dr Pepper Snapple.