The EU’s competition watchdog has given the green light to Coca-cola’s £4 billion acquisition of Costa Coffee.
The merger was announced in August last year and is now expected to complete in the first half of this year.
In a statement issued earlier this week, the commission said: “The Commission concluded that the proposed acquisition would raise no competition concerns because the companies do not sell the same products and the links between their activities are limited.”
The move has been seen by many as an attempt by the drinks giant Coca-cola to challenge the likes of Starbucks.
Coca-Cola president and chief executive James Quincey said that he wants to turn Costa into a worldwide brand through its established distribution, marketing and vending platform.
“Hot beverages is one of the few remaining segments of the total beverage landscape where Coca-Cola does not have a global brand,” he said. “Costa gives us access to this market through a strong coffee platform. I’d like to welcome the team to Coca-Cola and look forward to working with them.”