ATLANTA | The Coca‑Cola Company announced that Innocent Drinks and Costa Coffee will report to the company’s Europe operating unit, effective the 1st of January 2025.
These organisational changes have been intended to streamline and simplify the current structure. There will be no significant employment changes, as the vast majority of current roles will continue.
The Global Ventures group was established in 2019 primarily to oversee the company’s ownership of Costa, Innocent, and Dogadan and its investment in Monster Beverage Corp.
“As we look to our next chapter of growth, we have evaluated how to best set ourselves up for future success with these growth areas, and we believe now is the right time to have them work more directly with our operating units,” said Coca‑Cola President and Chief Financial Officer John Murphy.
The following changes will take effect. Innocent, a 25-year-old London-based maker of juices and smoothies, will report to the Europe operating unit. The Coca‑Cola Company has owned Innocent since 2009. Innocent drinks are sold across Europe.
Costa will remain a stand-alone business and will report to the Europe OU. Costa is based in London, and most of the company’s retail and Express outlets are in the United Kingdom and elsewhere in Europe. Costa’s ready-to-drink businesses outside of Europe will report through local operating units.
Dogadan, a Türkiye-based tea business founded in 1975 and closely collaborating with Costa in recent years, will report to Costa’s retail business in Europe. Dogadan has been part of Coca‑Cola since 2007.
Coca‑Cola’s investment in Monster will be overseen by Murphy, while the respective geographies will be responsible for the underlying operations results.
Global Ventures is currently a separate operating segment. As part of the reorganisation, Global Ventures will be sunset, and the company will issue financials for 2022 through 2024 to reflect the changes. The recast data will be available publicly in early 2025.
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