Coca-Cola exploring corporate restructure of its Costa Coffee business, report says

The US beverages group is seeking to shake up the coffee chain after failing to find a buyer last year

Coca-Cola has reportedly engaged two restructuring firms to carry out an operational review of its Costa Coffee business.

Atlanta-based Coca-Cola, which acquired the UK coffee chain for $4.9bn in January 2019, explored a cut-price $2bn sale of Costa last year after then CEO James Quincey conceded that the investment was “not where we wanted it to be” following lower-than-expected returns.

Coca-Cola shelved the move in January 2026 after a lukewarm response from investors, which reportedly included KKR, Bain Capital, TDR Capital and Centurium Capital.