Nestle (Switzerland) and Starbucks (US) Sign Global Expansion Plan
03 Sep 2018 - Nestlé and Starbucks have signed a deal granting Nestlé the perpetual rights to market Starbucks' consumer packaged goods and foodservice products globally, outside of Starbucks locations, according to a press release.
The two companies will work closely together on the existing Starbucks range of roast and ground coffee, whole bean, along with instant and portioned coffee.
"This partnership demonstrates our growth agenda in action, giving Nestlé an unparalleled position in the coffee business with a full suite of innovative brands," Nestle CEO Mark Schneider, said in the release. "With Starbucks, Nescafé and Nespresso, we bring together the world's most iconic coffee brands. The outstanding collaboration between the two teams resulted in a swift completion of this agreement, which will pave the way to capture further growth opportunities."
The agreement covers global expansion in grocery and foodservice for the Starbucks brand, using the worldwide reach of Nestlé.
"Bringing together the world's leading coffee retailer, the world's largest food and beverage company,and the world's largest and fast-growing installed base of at-home and single-serve coffee machines ,helps us amplify the Starbucks brand around the world while delivering long-term value creation for our shareholders."
Approximately 500 Starbucks employees in the United States and Europe will join the Nestlé family, with the majority based in Seattle and London.