Is illy owned by Coca Cola?

Excuse me, I've been hearing some rumors that the coffee brand illy is somehow owned by Coca Cola. Could you please clarify if this is true? I'm a bit confused because I've always thought of illy as an independent, high-end coffee brand with a strong Italian heritage. If Coca Cola does own illy, how did this come about and what impact has it had on the brand's identity and operations? I'd appreciate any insight you could provide.