The beverage giant is reportedly exploring a fresh attempt to divest the British coffee chain after private equity bids fell short of expectations and a potential strategic buyer walked away.
Coca-Cola is reportedly reconsidering the sale of Costa Coffee after an earlier divestment process failed to secure offers that met its valuation expectations, according to a Semafor report published on October 9, 2026.
The US beverage major is looking to unwind its $5.1 billion acquisition of the British coffeehouse chain, which it bought in 2018 to expand beyond carbonated soft drinks and strengthen its presence in the coffee market.
The latest development follows an unsuccessful sales process earlier this year. According to a January Financial Times report, Coca-Cola abandoned its plans to sell Costa after bids from private equity firms came in below expectations.
A potential strategic buyer also evaluated the possibility of acquiring Costa but eventually declined to proceed, citing valuation concerns and strategic considerations, Semafor reported.
It remains unclear how much Coca-Cola would seek for Costa Coffee if it relaunches the sale process. The company had not immediately responded to a request for comment at the time of publication.
Coca-Cola acquired Costa from British hospitality company Whitbread in 2018 for £3.9 billion, equivalent to approximately $5.1 billion. The deal marked a significant move by Coca-Cola to diversify its beverage portfolio and tap into the global coffee market.
However, the reported difficulties in finding a suitable buyer highlight the challenges of securing an acceptable valuation for the chain. The gap between seller expectations and potential buyers’ offers has emerged as a key obstacle to the proposed divestment.
Whether Coca-Cola will formally restart the sale process, revise its valuation expectations or retain Costa Coffee remains uncertain.