Centurium Capital, the private equity backer of Chinese chain Luckin Coffee, is evaluating making an offer for UK cafe operator Costa Coffee.
The investment company is considering whether it will make a bid for Costa Coffee, which is being sold by Coca-Cola Co. (KO), according to a Bloomberg report on Tuesday, which cited people familiar with the matter. It’s not clear if Centurium would make the bid or if it may be done through Luckin.
Some suitors have been discussing potential offers for Costa Coffee that value the chain at around £1 billion ($1.3 billion), according to the report.
The latest update comes after a report late last month that American investment giant KKR (KKR) made a bid to buy Costa Coffee.
Costa Coffee is the UK’s largest and the world’s second-largest coffeehouse chain behind Starbucks (SBUX). Coca-Cola Company (KO) acquired the Costa Coffee chain in 2018 for $4.9 billion.