Coca-Cola and Costa teamed up to launch ready-to-drink coffee
Since the completion of the acquisition of the British coffee chain brand Costa in January this year, Coca-Cola has finally made a big move - Costa Coffee first launched canned coffee.
The collection includes classic latte, caramel latte and American black coffee, which will be sold in 250 ml cans and 100% recyclable. The collection is made from "pure coffee" and uses the Costa's signature Mocha Italia blending formula (Mocha Italia).
The series will debut in the UK later this month and will then land in the Polish and Chinese markets. The choice to launch new products in the last two regions is due to the fact that the Costa brand is highly recognized in these countries.
Jennifer Mann, Coca-Cola's senior vice president and president of the Global Ventures Department, said that the ability to quickly launch ready-to-drink new products underscores the tremendous energy of this partnership, "to bring the Coca-Cola system's marketing expertise, global scale and distribution channels to Costa Coffee in the coffee industry. The combination of expertise and ability, the result is a wonderful and delicious ready-to-drink coffee."
Dominic Paul, CEO of Costa Coffee, said: "Through this collaboration, we are the first to offer consumers the taste of canned Costa coffee.... We are really proud to push this product to such a fast speed. The market, while still ensuring that the core of the collection is pure coffee."
Coca-Cola acquires Costa
Costa was founded in London in 1971 and currently operates in more than 30 countries including China, Europe, Asia Pacific, the Middle East and Africa.
In August last year, Coca-Cola intentionally acquired Costa for $5.1 billion. In January this year, according to foreign media reports, Coca-Cola paid 4.9 billion US dollars (3.9 billion pounds) to Whibread PLC to acquire the British chain coffee shop Costa, Coca-Cola has officially completed the acquisition after the EU and Chinese regulatory authorities have been approved. The deal was Coca-Cola's largest acquisition in eight years, making Coca-Cola the world's second-largest coffee chain (after Starbucks) and entering the highly competitive coffee market.
According to public information, the global coffee market grows by 6% annually and is worth about $500 billion. The acquisition also helped Coca-Cola achieve its mission of becoming a more comprehensive beverage company in the development field.
Coca-Cola CEO James Quincey said earlier this year that the launch of ready-to-drink coffee products will be the prelude to the company's coffee platform expansion plan.
He said in the company's April earnings conference call: "We have seen tremendous opportunities to bring Costa ready-to-drink products to market."
As for how to anticipate the development of the coffee platform, not only the ready-to-drink products, but also the vending system, coffee beans and coffee machines can also cooperate - these we will talk later this year, we still have time to manage with Costa Consolidate this expansion plan."