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05/2026

NEXTALIA takes majority stake in COSTA

UNITED KINGDOM Hospitality & Leisure / Hospitality / Restaurants / Chains EV €100–350M

Context

Nextalia SGR assumes control of Costa Edutainment through the acquisition of the group’s top holding company, marking the exit of DeA Capital Alternative Funds (Green Arrow Capital) from the shareholder base, alongside a broader restructuring of ownership. The transaction also includes a partial reinvestment by the founding family through its controlling holding, ensuring continuity and alignment within the new capital structure. The scope covers the group’s full portfolio of leisure and cultural infrastructure assets, operated under long-term concession and management agreements. The strategic focus is on asset optimisation, operational synergies, and selective development of existing sites within a disciplined portfolio framework. The investment takes place in a fragmented European experiential leisure market, increasingly shaped by platform consolidation dynamics and the aggregation of multi-site operators.

In the past, Costa was acquired by Coca-Cola in 2018 as part of its expansion strategy.

COSTA, which reported an EBITDA margin of [members only] in 2025, is valued in this transaction at an EV/EBITDA multiple of below 5x, a level significantly lower than the average currently observed in the Retail & Consumer sector (11.9x).

-> Deep-dive in Retail & Consumer market trends

Target

Founded in London in 1971 by Sergio and Bruno Costa, Costa Limited operates an integrated commercial platform in the global hot beverage sector. The business model coordinates an international network of nearly 4,000 retail coffee shops distributed across 32 countries, maintaining a commercial presence in Europe, the Asia-Pacific region, the Middle East, and Africa. Beyond traditional high-street retail storefronts, the brand deploys Costa Express, a self-service vending network comprising more than 8,000 bean-to-cup automated machines located in eight countries. Industrial roasting infrastructure includes a proprietary roasting facility engineered to supply raw inputs across company-owned, franchised, and wholesale delivery lines. Commercial distribution channels address everyday consumer demand through on-premise service, bagged bean distribution, and packaged supermarket products.

Ent. Value

€100–350M

Equity Value

[members only]

Multiples

EV / Revenue

1x–3x

EV / EBITDA

below 5x

EV / EBIT

[members only]

Historical Financials (EUR)

Year
Rev
EBITDA
EBIT
2025
€50–100M
€10–30M
[members only]
2024
€50–100M
€10–30M
[members only]

Other operations with COSTA

Other operations with COSTA

List of similar M&A transactions (Date, Acquirer, Target, Country, Sub-sector)
DateAcquirerTargetCountrySector
08/2018COCA-COLACOSTAUNITED KINGDOMRestaurants / Chains

REFERENCES

Valuation range: EV €100–350M

Revenue range: €50–100M

EBITDA range: €10–30M

EV/Revenue range: 1x - 3x

EV/EBITDA range: below 5x

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of COSTA by NEXTALIA are reserved for mynth community members. Register for free to unlock full data.

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

Target: costa

Acquirer: nextalia