Aug 23 (Reuters) - U.S. soft drinks company Coca-Cola
is working with investment bank Lazard ( LAZ ) to review options,
including a potential sale, of British coffee chain Costa, which
it acquired in 2018 for over $5 billion, Sky News reported on
Saturday.
Reuters could not immediately verify the report. Coca-Cola,
Costa, and Lazard ( LAZ ) did not immediately respond to requests for
comment.
Atlanta-headquartered Coca-Cola has held initial talks with
a small number of potential bidders for Costa, including private
equity firms, Sky News reported, citing unidentified sources.
The report said indicative offers are expected in early
autumn, while noting that Coca-Cola may ultimately choose not to
proceed with a sale.
Costa Coffee operates in 50 countries, with more than 2,700
coffee shops across the UK and Ireland and over 1,300 more
outlets globally, according to its website.
Coca-Cola acquired the chain more than six years ago to
strengthen its push into healthier beverages and compete with
Starbucks ( SBUX ) and Nestle in the global coffee
market.
In the United States, food companies are seeking healthier
substitutes as they respond to Health Secretary Robert F.
Kennedy Jr.'s Make America Healthy Again campaign. In July,
President Donald Trump said Coca-Cola had agreed to use real
cane sugar in the United States.