Good news for coffee lovers! Nestle pays $7.15 bn to sell Starbucks products

Reading Time: 2 minutes Post Views: 3,630 In what could be termed as a historic deal, Swiss food giant Nestle announced that it will pay USD 7.15 billion in cash for the rights to market Starbucks products around the world, outside of the company’s coffee shops. As part of this transaction, Starbucks will receive an up-front cash payment of USD 7.15 billion for a business which generated annual sales of USD 2 billion. The transaction does not include the transfer of any fixed assets, which facilitates a smooth and efficient integration. The agreement gives…

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