Coca-Cola buys coffee chain Costa for $5.1 billion

Coca-Cola on Friday said it had agreed to buy international coffee chain Costa from its UK owner Whitbread, in a deal that gives the beverages behemoth its first global coffee brand. "Hot beverages is one of the few remaining segments of the total beverage landscape where Coca-Cola does not have a global brand. Costa gives us access to this market through a strong coffee platform," Coca-Cola chief executive James Quincey said in a joint statement.

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