Costa Coffee acquisition lifts Coca-Cola's Q4 system-wide revenues, income growth
However, the beverage company has incurred US$46 million (£35.4m) in transaction costs due to Costa purchase.
The acquisition of Costa Coffee proved to be of value to parent company Coca Cola, which posted a 16% net revenues growth to US$9.1 billion (£7bn) in Q4 2019.
The purchase of the UK beverage chain also contributed to the US-based beverage giant’s operating income, which went up 19% in the same quarter.
However, the company has incurred US$46 million (£35.4m) in transaction costs due to Costa acquisition in the full year ending 31 December.
The company bought Costa Coffee for £3.9 billion (US$5.1bn) in January 2019.
Meanwhile, Coca-Cola’s Europe, Middle East and Africa division has posted a 14% decline in operating income in the period from October to December 2019 due to a nine-point currency headwind.
