Costa Coffee Buys Back 49% Stake From Yueda Group

 

Via chinadaily.com.cn

Leisure group Whitbread, the British owner of coffee chain Costa, has paid 35 million pounds ($46 million) to buy out a joint venture partner in China as it looks to capitalize on a growing thirst for coffee in the country.

Yueda Group, a diversified conglomerate based in Yancheng, Jiangsu province, sold its 49 percent stake in Costa’s South China operations to Whitbread on Tuesday.

Whitbread, which also owns the Premier Inn hotel chain and several restaurants, now has full control of the 252 Costa coffee shops in the region, including 93 stores in Shanghai.

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