The Coca-Cola Company has announced that its Costa Coffee and Innocent Drinks brands will transition to report directly to the company’s Europe operating unit, effective January 1 2025.
This reorganisation is part of a broader initiative to simplify the company’s reporting structure without significant employment changes.
The shift marks a departure from Coca-Cola’s Global Ventures group, which was established in 2019 to oversee Costa and Innocent, as well as other investments, including Monster Beverage Corp.
John Murphy, president and CFO of Coca-Cola, highlgihted the need for closer alignment with operating units as the company seeks to capitalise on its growth areas. “As we look to our next chapter of growth, we have evaluated how to best set ourselves up for future success,” Murphy said.
Innocent, known for its range of juices and smoothies, has been part of Coca-Cola’s portfolio since 2009 and has established a strong presence across Europe. The brand will now operate under the Europe unit, which is expected to streamline its integration with Coca-Cola’s broader operations.
Costa Coffee, a staple in the UK and European coffee market, will retain its status as a standalone business while reporting to the same unit. The company’s extensive retail and Express outlets in the UK will continue to play a role in its operations, while ready-to-drink products outside of Europe will report through local units.
Additionally, Dogadan – a Turkish tea business that has collaborated closely with Costa – will be integrated into Costa’s European retail operations. Dogadan has been part of Coca-Cola since 2007, further expanding the beverage giant’s offerings in the tea segment.
As part of the reorganisation, oversight of Coca-Cola’s investment in Monster will transition to Murphy, with geographic units now responsible for operational results. The Global Ventures segment will be dissolved, and the company plans to release recast financial data for 2022-2024 to reflect these changes.
The company has indicated that it will publicly share the updated financials early in 2025, providing further insights into the impact of this organisational shift on its overall performance and strategy within the competitive food and beverage landscape.
by Siân Yates
Source: foodbev.com
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