The European Commission announced on Thursday, January 3, it had cleared the sale of the Costa Coffee chain to US drinks maker Coca-Cola from British restaurant and hotel owner Whitbread.
“The Commission concluded that the proposed acquisition would raise no competition concerns because the companies do not sell the same products and the links between their activities are limited,” an EU executive said in a statement.
The acquisition is widely seen as an attempt by the fizzy drink giant to challenge the dominance of Starbucks and to ramp up competition in the ready-to-drink coffee market.
Coca-Cola president and chief executive James Quincey said he wants to turn Costa into a worldwide brand through its established distribution, marketing and vending platform.
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