<div id="readability-page-1"><div>By Sebastian PellejeroThe soda giant dropped plans to sell Costa Coffee after bids fell short of hopes for some 2 bln pounds, the FT reports. Outgoing CEO James Quincey paid almost twice that and has little to show for moves beyond the fizzy core. Adapting to a less sugar-craving age is now the test.Full view will be published shortly.Follow Sebastian Pellejero on LinkedIn.CONTEXT NEWSCoca-Cola has ditched plans to sell Costa Coffee after bids from private equity suitors fell short of its expectations, the Financial Times reported on January 14. Previous stories from the Financial Times stated Coke had been seeking about 2 billion pounds, nearly half of what it paid to acquire the UK's largest coffee shop chain in 2018.</div></div>

Coca-Cola has abandoned its plans to sell Costa Coffee after bids from private equity firms fell short of the expected 2 billion pounds. Outgoing CEO James Quincey, who paid nearly double that amount for the coffee chain in 2018, faces challenges in adapting to changing consumer preferences as the company shifts focus from sugary drinks.

- Coca-Cola has abandoned plans to sell Costa Coffee due to bids falling below its expected 2 billion pounds.  
- The Financial Times reported that the outgoing CEO, James Quincey, paid nearly double that amount during the acquisition in 2018, with little progress seen beyond its core soda business.  
- Adapting to changing consumer preferences away from sugary drinks is now a key challenge for the company.

Coke’s congealed coffee sale mars CEO departure