Costa Coffee Sale Lures Backer of Top Chinese Chain Luckin (2)

Centurium Capital, the private equity backer of fast-growing Chinese chain Luckin Coffee Inc., is considering a bid for UK cafe operator Costa Coffee, people with knowledge of the matter said.

The investment firm has been evaluating whether to make an offer for Costa Coffee, which is being sold by Coca-Cola Co., the people said. The exact structure of any proposal hasn’t been finalized, and it’s unclear whether Centurium would potentially be bidding itself or through Luckin.

Luckin has grown rapidly in recent years, brushing past Starbucks Corp. in China, where it has over 26,000 stores — ...