Costa was one of the few big coffee chains up for sale after Nestle SA and the Reimann family's investment company JAB both went on an acquisition spree in the segment.
"Costa also provides Coca-Cola with strong expertise across the coffee supply chain, including sourcing, vending and distribution", the soft drinks giant added.
The move is Coca-Cola's latest diversification as health-conscious consumers, at least in America, move away from traditional soda.
Coca-Cola's planned purchase follows Nestlé's $7 billion licensing deal to sell Starbucks coffee in grocery stores around the world to revitalize its hot-drink business, which experts say has stagnated, especially with younger customers.
For Costa, Hyett said Costa will get "lots of care and attention" from Coca- Cola.
"However, the growth story needs to be looked at because Whitbread has chose to change tack, shifting away from a demerger that it said would let the coffee and hotel chains grow more rapidly in favour of a quick sale".
Since being bought by Whitbread in 1995 for just £19m Costa has grown to become the UK's largest coffee chain and the second largest internationally behind Starbucks, with 2,400 outlets and a further 1,400 scattered around the world in 31 foreign markets.
Costa has over 2,400 coffee shops in the United Kingdom and another 1,400 in more than 30 global markets.
Still, Costa outranks Starbucks in the United Kingdom - it also operates a business of 8,000 self-service machines - and is expanding in markets such as China. Earlier this year, the British newspaper the Guardian ran a story titled "Have we reached peak Costa Coffee?"
Whitbread said it will reduce debt and contribute to the pension fund with the proceeds from the deal and further expand its hotel chain Premier Inn in the United Kingdom and Germany.
Proceeds of the deal will be used to pay down debt and boost the pension fund.
"I would imagine they would be as delighted and surprised as anybody else this morning", she told reporters.
Whitbread said that the sale of Costa to the maker of Coke and Fanta had been struck at "a substantial premium" to the value that would have been generated by a demerger.
Later in the day, a military aircraft was scheduled to take McCain's body back east for a lying-in-state at the U.S. It was only until Monday that the president issued a longer statement about his respect for McCain's service.
John McCain until he is laid to rest and ordered flags to fly at half-staff and delegating senior officials to the funeral. As for the current president, McCain requested that Donald Trump not "take part" in the service, per The New York Times .
But the footage of an unhappy Sansa hugging a morose Jon is sure to keep fans speculating. "The situation changes every week". In order for a show to be eligible for the Emmy nominations next year, it must air a majority of its episodes by May 31.
I suspect that the bulk of the currency (Rs 10,720 crore) was in Nepal and Bhutan and some of that was lost or destroyed". The government replaced old Rs 500 notes with new ones, but no replacement for Rs 1,000 notes have been made.
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One team will be taken from each pot to form a group, but teams from the same association can not face each other. The Champions League draw starts at 7pm United Kingdom time on Thursday, with Liverpool now knowing their pot .
Securities and Exchange Commission into the factual accuracy of an August 7 tweet that funding for the buyout deal was "secured". Notes from Wall Street analysts questioned Musk's credibility going forward in the face of a possible investigation by the U.S.
His grave site will overlook the Severn River, and will be next his best friend from his Naval Academy days, Admiral Chuck Larson. McCain will lie in state at the Arizona state capitol Wednesday with his first memorial service taking place Thursday in Phoenix.
An assault on Idlib by Damascus and Moscow could be the last major battle of the civil war that has torn Syria apart since 2011. The United Nations has called on Russia , Iran and Turkey to delay a battle that could affect millions of civilians.
It comes amid a row that scallop stocks have been stripped by British firms, without giving the population a chance to recover. He said he had been contacted by his French counterpart agreeing to a meeting in France.
Venus, the 2000 and 2001 champion, made the third round for the 17th time with a 6-4, 7-5 victory over Camila Giorgi of Italy. I know the same thing is for her. "Unsportsmanlike conduct.???? But the men can change shirts on court", she tweeted.
Detroit hosts star-studded funeral for Aretha Franklin
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Morrison announces new cabinet, Bishop quits
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