Nestle And Starbucks Form “Global Coffee Alliance” With Deal Worth $7.15B!
Nestle and Starbucks just inked a deal to form what they’re calling a “global coffee alliance,” and that’s not just corporate hyperbole — it’s a big deal. Nestle will pay Starbucks $7.15 billion upfront in cash for the right to sell Starbucks packaged products in places including supermarkets. And people will be able to buy Starbucks capsules to use in their Nespresso and Dolce Gusto coffee machines. “With Starbucks, Nescafe and Nespresso, we bring together three iconic brands in the world of coffee,” Nestle Chief Executive Officer Mark Schneider said in a joint statement. The deal doesn’t include ready-to-drink products. (Bloomberg)