Coca-Cola Attempting To Salvage Sale Of Costa Coffee In Last-Ditch Talks With Preferred Bidder TDR Capital – CoffeeTalk

Coca-Cola is facing challenges in finalizing the sale of Costa Coffee, with ongoing discussions with private equity firm TDR Capital reported to be in jeopardy. According to the Financial Times, the company is engaged in critical talks this weekend to salvage the deal after TDR was named the preferred bidder earlier in the week. The negotiations have encountered obstacles mainly regarding the proposed price for Costa Coffee. The deal is expected to involve Coca-Cola retaining a minority interest in the coffee chain. Reuters indicated that they could not immediately confirm the report, and TDR has not provided a comment. Additionally, Coca-Cola did not respond to requests for further information. In August, Coca-Cola was reportedly working with investment bank Lazard to explore various options for Costa Coffee, including the potential sale of the brand. This follows the acquisition of Costa by Coca-Cola in 2018 from Whitbread Plc, which sold it for an enterprise value of $5.1 billion.

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