Coca-Cola Keeps Costa Coffee, Cites Brand’s China Struggles

Coca-Cola Co. will retain full ownership of Costa Coffee, but it’s reviewing the unit’s challenged business in China, the company’s chief financial officer said Tuesday.

The beverage maker, which also reported earnings, had been considering bids for UK cafe operator Costa Coffee. Coca-Cola bought the chain in 2018 for about $5 billion, but has struggled to find success with it.