Nestle pays USD 7.15 bn for rights to sell Starbucks products globally

Anca Alexe 07/05/2018 | 12:11

Nestle will pay USD 7.15 billion to Starbucks as part of a global coffee alliance in which the Swiss-based food giant will get the right to market Starbucks products outside the company’s coffee shops around the world, Reuters reports.

“This global coffee alliance will bring the Starbucks experience to the homes of millions more around the world through the reach and reputation of Nestle,” said Starbucks CEO Kevin Johnson.

Nestle will take on about 500 Starbucks employees as a result of the deal, and it says its ongoing share buyback programme will remain unchanged.


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