Coca-Cola buys coffee chain Costa for 3.9 bn pounds

Coca-Cola today said it had agreed to buy global coffee chain Costa from its owner Whitbread for 3.9 billion pounds ($5.1 billion).

"Hot beverages is one of the few remaining segments of the total beverage landscape where Coca-Cola does not have a global brand. Costa gives us access to this market through a strong coffee platform," Coca-Cola chief executive James Quincey said in a joint statement.