The Nestle-Starbucks transaction, which needs approval from regulators, should be finalised by the end of 2018. Photo: ReutersZurich: Swiss food giant Nestle announced Monday it will pay $7.15 billion for the rights to market Starbucks products around the world, outside of the company’s coffee shops. “This transaction is a significant step for our coffee business, Nestle’s largest high-growth category,” said Nestle CEO Mark Schneider in a statement. The deal will create a “global coffee alliance”, Starbucks president and CEO Kevin Johnson said. The transaction, which needs approval from regulators, should be finalised by the end of 2018.

Source: Mint May 07, 2018 07:07 UTC