SEATTLE, Wash. — Starbucks and Nestlé plan to form a global coffee alliance allowing Nestlé to market, sell and distribute various packaged Starbucks coffee and tea products.
KIRO reports Nestlé will pay Starbucks $7.15 billion and as part of the deal, Starbucks will keep its stake as licensor and supplier.
Starbucks president and CEO Kevin Johnson tells KIRO this “historic deal” will help the company evolve and further its reach.
The deal is expected to close later this year after regulatory approval.