Reuters/Kim Hong-Ji
- Swiss-based food giant Nestle will pay Starbucks $ 7.15 billion in cash for the rights to sell the U.S. coffee chain’s products around the world in a global alliance aimed at reinvigorating their coffee empires.
- The deal on Monday for a business with $ 2 billion in sales reinforces Nestle’s position as the world’s biggest coffee company tries to fortify its place atop a fast-changing market.
- Nestle, also the world’s largest packaged food company, is also not shy when it comes to partnering with rivals, whether through licensing deals or joint ventures.
LONDON/ZURICH (Reuters) – Swiss-based food giant Nestle will pay Starbucks $ 7.15 billion in cash for the rights to sell the U.S. coffee chain’s products around the world in a global alliance aimed at reinvigorating their coffee empires.
The deal on Monday for a business with $ 2 billion in sales reinforces Nestle’s position as the world’s biggest coffee company tries to fortify its place atop a fast-changing market.See the rest of the story at Business Insider
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