Starbucks sold Nestlé the rights to offer its coffee and tea in stores for a whopping $7 Billion.
Nestle will sell Starbucks products in supermarkets, restaurants and catering operations.
Nestle hopes the deal will contribute positively to its earnings per share and organic growth targets from 2019.
About 500 Starbucks employees will join Nestle, and operations will continue to be located in Seattle. “This global coffee alliance will bring the Starbucks experience to the homes of millions more around the world through the reach and reputation of Nestle,” said Starbucks Chief Executive Kevin Johnson. Mornings are about to get a little more caffeinated.
