Key facts
- Coca-Cola is seeking to sell Costa Coffee, according to Semafor.
- The company acquired Costa Coffee for $5.1 billion in 2018.
- A previous sales process for Costa Coffee faltered earlier this year.
- Private-equity bidders showed tepid interest in a potential sale.
- At least one strategic acquirer passed on a deal due to valuation and strategic issues.
Coca-Cola is reportedly exploring the sale of its British coffeehouse chain, Costa Coffee, after a prior attempt to divest the business earlier this year did not result in a sale. The beverage conglomerate acquired Costa for $5.1 billion in 2018 but has faced challenges in meaningfully growing the business.