Costa acquisition to boost Coca-Cola coffee market share in Hungary
The local unit of U.S. soft drink maker Coca-Cola expects its market share of the premium coffee market to climb to 20% by next May because of the parent companyʼs acquisition of Costa Coffee, Coca-Cola HBC Magyarországʼs official in charge of coffee, Márton Vajda, said on Tuesday, according to a report by Hungarian news agency MTI.
The Coca-Cola Company acquired Costa Coffee for USD 4.9 billion last year.
Coca-Cola HBC Magyarország will sell coffee at more than 200 catering establishments and at over 1,200 other sales points this year, Vajda said.
Retail turnover is expected to account for more than two-thirds of coffee sales, while the HoReCa sector and workplace cafeteria sales make up 30%, he added.
Hungaryʼs coffee market is worth an annual HUF 63 bln, according to researcher Nielsen.
About 85% of Hungarian adults drink coffee daily: 2.7 cups on average. Some 91% of coffee drinkers brew coffee at home, while 53% drink coffee at their place of work.
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