Nestle, Starbucks starting “global coffee alliance“
(FinancialPress) — Food products giant Nestlé has struck a commercial and distribution deal with coffee king Starbucks. Nestlé will now pay $7.2 billion to sell and distribute Starbucks‘ packaged products worldwide, said the companies in a joint statement.
Nestlé thus adds Starbucks to its coffee products portfolio, which already includes Nescafe and Nespresso.
The deal is limited to packaged products sold outside of Starbucks‘ US-based stores. Its ready-to-drink coffees, juices and teas are not included in the agreement.
The press release also states that Starbucks‘ packaged good business bring in about $2 billion in revenue yearly, at the moment.