SME Times is powered by   
Search News
Just in:   • FB enlists Qualcomm for its gigabit Wi-Fi project  • Petrol prices highest ever in Delhi, Mumbai  • Moody's cuts Punjab National Bank's deposit ratings, outlook stable  • Early access to OnePlus 6 via pop-up sale  • Full Magenta Line to open for public from May 29 
Last updated: 08 May, 2018  

Nestle.9.Thmb.jpg Nestle in $7.1bn Starbucks coffee deal

Nestle.9.jpg
   Top Stories
» FICCI urges govt to cut excise duty on fuel
» Harsh Vardhan to lead mission to innovation event
» Apply science to foster quality of life: Naidu
» 'Banks credit in personal loans too high compared to degrowth in infra sectors'
» Prabhu in Twitter live session answering entrepreneurs
IANS | 08 May, 2018
Food giant Nestle on Monday announced a $7.1 billion deal with Starbucks for the rights to sell the chains coffee, tea and food products in grocery stores and other outlets globally.

The Swiss consumer goods giant said 500 Starbucks employees would transfer over to its business but they would continue to be located in Seattle, the group's headquarters for the last 47 years.

The Nescafe and Nespresso owner would own the rights to market Starbucks' coffee, which it says generates $2 billion in annual sales, the BBC reported.

Nestle chief executive Mark Schneider, who in 2016 became the first outsider to run Nestle in almost 100 years and who is attempting to boost the company's profit through expansion, described it as a "significant step".

The company last sold its US sweets and chocolate business, including brands such as Crunch and Butterfinger, to Ferrero Group for 2.7 billion Swiss francs.

Schneider described the "global coffee alliance" with Starbucks as "a great day for coffee lovers around the world".
 
Print the Page Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
66.20
64.50
UK Pound
87.50
84.65
Euro
78.25
75.65
Japanese Yen 58.85 56.85
As on 22 May, 2018
  Daily Poll
Is counterfeiting a major threat to SMEs?
 Yes
 No
 Can't say
  Commented Stories
» Starting an import export business: Basic guide for beginners(22)
» PPP critical for building a strong education infrastructure: Anil Swarup(2)
» Prabhu urges pharma exporters to expand to new markets(1)
» Oil price to raise import bill by upto $50 bn, no excise cut likely(1)
» Inflation shocker(1)
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter