Deals
Nestle Bets $7 Billion on Starbucks to Revive Coffee Sales
- CEO Mark Schneider makes Nestle’s third-largest acquisition
- Upfront payment is for marketing licenses, no fixed assets
Nestle Turns to Starbucks to Gain U.S. Market Share in $7.15B Deal
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For years, a smoldering George Clooney would sip his espresso and ask: “Nespresso...what else?” Turns out the answer is: Starbucks.
In the third-biggest transaction in Nestle SA’s 152-year history, the Swiss food giant will spend $7.15 billion for the right to market Starbucks Corp. products from beans to capsules, marrying its international distribution network with the allure of arguably the biggest name in java.