Nestle pays US$7.2bil to sell coffee with Starbucks brand


FILE - In this April 7, 2016, file photo Nestles directors speak in front of the Nestles logo during the general meeting of Nestle Group, in Lausanne, Switzerland. Nestle has entered an agreement to bring Starbucks products to millions of homes worldwide, announced Monday, May 7, 2018. (Laurent Gillieron/Keystone via AP, File)

ZURICH: Nestle SA and Starbucks Corp are joining forces to rejuvenate their coffee empires.

The Swiss maker of Nescafe will pay the Seattle-based chain US$7.15bil upfront in cash for the rights to sell Starbucks coffee products in supermarkets, restaurants and catering operations, the companies said yesterday. Nestle will use the Starbucks brand in its Nespresso and Dolce Gusto capsule systems next year.

Subscribe now and receive FREE sooka plan for 1 month.
T&C applies.

Monthly Plan

RM13.90/month

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Business , Nestle , starbucks , coffee , sell , brand ,

   

Next In Business News

Wasco debuts Asean sustainable finance framework
KIP-REIT buys retail asset in Perak
Jakarta fears labour law refit will impact fund flows
Stronger second half seen for Hap Seng Plantations
Rising AI power usage challenges zero emission goals
Senate probes unauthorised transactions
Vietnam lauds benefits of WTO membership
MAA projects vehicle sales to hit 800,000 in 2024
MISC’s net profit slips to RM339mil in 3Q
New contracts to drive Dayang’s profit

Others Also Read