Nestlé: completes coffee license deal with Starbucks
(CercleFinance.com) - Nestlé said that it has completed the deal granting it perpetual rights to market Starbucks' consumer packaged products globally, outside the coffee chain's shops.
The agreement means that approximately 500 Starbucks employees in the US and Europe will join Nestlé's teams, most of whom will be based in Seattle and London.
Nestlé said that the international expansion of the business will be led from its global headquarters in Vevey, Switzerland.
The agreement covers Starbucks' packaged coffee and tea brands, such as Starbucks, Seattle's Best Coffee, Starbucks Via Instant, and Starbucks-branded K-Cup pods.
Nestlé said that the deal strengthens its coffee portfolio in the North American premium roast and ground and portioned coffee business, while facilitating global expansion into grocery and foodservice for the Starbucks brand, thanks to Nestlé's global reach.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The agreement means that approximately 500 Starbucks employees in the US and Europe will join Nestlé's teams, most of whom will be based in Seattle and London.
Nestlé said that the international expansion of the business will be led from its global headquarters in Vevey, Switzerland.
The agreement covers Starbucks' packaged coffee and tea brands, such as Starbucks, Seattle's Best Coffee, Starbucks Via Instant, and Starbucks-branded K-Cup pods.
Nestlé said that the deal strengthens its coffee portfolio in the North American premium roast and ground and portioned coffee business, while facilitating global expansion into grocery and foodservice for the Starbucks brand, thanks to Nestlé's global reach.
Copyright (c) 2018 CercleFinance.com. All rights reserved.