Nestle Strikes $7 Billion Licensing Deal With Starbucks
Nestle is paying $7.15 billion to market and sell Starbucks’ packaged coffees and teas globally. The permanent agreement applies to products sold outside of Starbucks coffee shops.
According to a statement, the two companies will work together on innovation and go-to-market strategies.
Nestle already owns a large portion of the packaged coffee market with Nescafe and Nespresso.The agreement doesn’t apply to ready-to-drink products.