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Coca-Cola Buys Coffee Chain Costa

LONDON: Coca-Cola on Friday said it had agreed to buy global coffee chain Costa from its UK owner Whitbread for$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. The deal comes amid eroding consumer demand for conventional carbonated drinks owing to health and obesity concerns in the US and…