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Coca-Cola takes plunge into coffee with $5B deal

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Coca-Cola Co. agreed to purchase coffee chain Costa for $5.1 billion, which includes debt.

Costa, currently owned by Britain’s Whitbread, operates nearly 4,000 outlets.

“Coca-Cola doesn’t have a broad, global portfolio in this growing category,” Coca-Cola CEO James Quincey said.

Read more from Reuters.

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