Coca-Cola HBC (Coca‑Cola Hellenic Bottling Company) plans to launch Costa Coffee in at least 10 of its 28 markets next year, the company revealed today.
New markets for the brand include Bulgaria, Greece, Hungary, Poland, Romania, Russia and Switzerland. The move is part of Coca-Cola HBC’s 24/7 beverage partner vision, with the aim of addressing a broad range of consumer and customer needs across multiple channels.
The coffee market offers a lucrative and fast-growing revenue prospect, and is a multi-billion dollar category across Coca-Cola HBC’s 28 markets. It is forecast to grow 4% annually. Costa Coffee is the leading coffee company in the United Kingdom, with a strong presence in Europe, Asia Pacific, the Middle East and Africa.
The Coca-Cola Company acquired Costa Coffee in January 2019 in a deal worth £3.9 billion, and has since accelerated the business, focusing on expanding in vending and ready-to-drink products. CEO James Quincey noted at the time how Costa would fit into Coca-Cola’s vision for a global coffee platform.
The first major Costa Coffee product launch since the acquisition was announced just last month: Costa Coffee Ready-to-Drink, a chilled, canned coffee brewed with Costa Coffee beans.
© FoodBev Media Ltd 2019