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Coca-Cola announced on Friday that it would buy British coffee-shop chain Costa Coffee for $5.1 billion.
Analysts say the move is likely to have a major impact on Starbucks, especially as it looks to grow in China, a region that both coffee chains are looking to expand in to drive sales.
According to GlobalData, retail sales of hot drinks in China alone will hit $34.2 billion by 2022, and hot-drinks volumes across all channels have more than doubled there in the past five years.
Costa Coffee is to the UK what Starbucks is to the US.
It’s the coffee chain that’s so prevalent you’ll find it on most street corners of major cities and towns, in thousands of self-service machines in gas stations around the UK, and in national grocery stores as “ready-to-drink” products.See the rest of the story at Business Insider
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