Get the app today! Download iPhone App Download Android App

Nestlé To Pay Starbucks $7bn In Global Coffee Alliance

Published on May 7 2018 2:29 PM in A-Brands tagged: Featured Post / Nestlé / Starbucks / Coffee / Paywall

Nestlé To Pay Starbucks $7bn In Global Coffee Alliance

Swiss-based food giant Nestlé will pay Starbucks $7.15 billion in cash for the rights to sell the US coffee chain's products around the world, tying a premium brand to Nestlé's global distribution muscle.

The deal, on Monday, for a business with $2 billion in sales reinforces Nestlé's position, as the world's biggest coffee company tries to fortify its place atop a fast-changing market.

It is a bold stroke by Nestlé chief executive Mark Schneider, who has made coffee a strategic priority as he tries to convince uneasy shareholders, including activist Third Point, that he can boost the sprawling group's performance.

please subscribe or sign in to continue reading

image description

Try European Supermarket Magazine PREMIUM – 30 Day FREE Trial.

A trial subscription gives unrestricted access to all premium site content, app content, weekly email content and European Supermarket Magazine digital edition for a full 30 days. Try it now!

Share on Facebook Share on Twitter Share on Google+ Share on LinkedIn Share on Tumblr Share via Email