The investment firm behind Gail’s and Pizza Express has reportedly thrown its hat into the ring for Costa Coffee.
Bain Capital is among the suitors to have made first-round bids for the UK’s largest coffee chain, according to the Financial Times.
It follows reports that Asda’s owner, TDR Capital, is another potential buyer after private equity firm Apollo decided against an offer.
Coca-Cola is thought to be looking to sell Costa, which has more than 2,700 branches in the UK and Ireland, for £2billion.
This is far less than the £3.9billion it paid to purchase the chain in 2018, as part of a bid to expand its portfolio beyond sodas.
In July, Coca-Cola boss James Quincey admitted the investment had ‘not quite delivered’ and was ‘not where we wanted it to be’. Bain Capital declined to comment.
Bid battle: Bain Capital is reportedly among the suitors to have made first-round bids for the UK’s largest coffee chain, which Coca-Cola is looking to offload
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