Nestle will pay Starbucks $7.15bn to have perpetual rights to market Starbucks’ products around the world outside Starbucks’ coffee shops. The business has annual sales of $2bn. The agreement is subject to customary regulatory approvals and is expected to close by the end of 2018. About 500 Starbucks employees will join Nestle. This transaction will not affect Nestlé’s share buy-back programme.
07 May 2018
Coffee wars: Nestlé and Starbucks form a global coffee alliance
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Coffee wars: Nestlé and Starbucks form a global coffee alliance
Nestle S.A. (NESN:PRA) | 0 0 0.2% | Mkt Cap: 236,088m
- Published:
07 May 2018 -
Author:
Anna Zyniewicz -
Pages:
2
Nestle will pay Starbucks $7.15bn to have perpetual rights to market Starbucks’ products around the world outside Starbucks’ coffee shops. The business has annual sales of $2bn. The agreement is subject to customary regulatory approvals and is expected to close by the end of 2018. About 500 Starbucks employees will join Nestle. This transaction will not affect Nestlé’s share buy-back programme.