In a newly released deal, Nestlé looks to take over the rights to market, sell and distribute Starbucks, Seattle’s Best Coffee, Starbucks Reserve, Teavana, Starbucks VIA and Torrefazione Italia packaged coffee and tea.
The deal, worth more than NZ$10 billion will see Nestlé handle global retail sales of Starbucks’ coffee outside of its coffee shops. The huge price tag could pay off big for the Swiss company. It will also allow a Starbucks brand on Nestlé single-serve capsules but excludes bottled drinks like iced coffees and Frappuccinos that are sold in and outside of Starbucks stores.
Around 500 Starbucks employees will join Nestlé and operations will continue in its Seattle base.