Coca-Cola looks to sell Costa Coffee, Semafor reports

Oct 8 (Reuters) - Coca-Cola ‌is ​seeking ​to unwind its $5 billion acquisition of British coffeehouse Costa Coffee ‌after a sales process failed earlier ⁠this year, Semafor reported on Thursday, citing ‌people familiar with the ‌matter.

Here are some more details:

• Coca-Cola had scrapped its plans to sell ​Costa earlier this year after the offers from private equity firms ⁠came in below expectations, the Financial Times reported in ​January.

• The beverage giant acquired Costa in 2018 for $5.1 billion in an ​effort to extend ‌its push into healthier drinks.

• At least one strategic acquirer ⁠mulled what a deal for Costa would look like before passing due to ⁠valuation and strategic issues, the Semafor report added.

• Coca-Cola ​did not immediately respond to a request for comment

• It could not be determined what ‌price Coca-Cola might seek for Costa if it were to ‌put the coffee chain back on ⁠the market, the ‌report added.

(Reporting ​by Angela Christy in Bengaluru; Editing by Shilpi Majumdar and Anil ‌D'Silva)

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