SME Times is powered by   
Search News
Just in:   • Fuel prices continue to rise, Modi to meet oil company heads  • Sugar mills worry over surplus, talk of 'industry collapse'  • UK to see 3 years of low growth: Forecaster  • Sept wholesale inflation spikes to 5.13 pc  • RCEP Inter-sessional ministerial meeting held in Singapore 
Last updated: 08 May, 2018  

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

Nestle.9.jpg
   Top Stories
» Sept wholesale inflation spikes to 5.13 pc
» RCEP Inter-sessional ministerial meeting held in Singapore
» 46th IHGF-Delhi Fair Autumn-2018 kicks off
» India International Silk Fair -2018 to begin Tuesday
» Exports sector facing multiple challenges: FIEO
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 15 Oct, 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(9)
» Awareness drives on MSME benefits(2)
» Ashok Leyland to launch 13-seater passenger vehicle, LCV(1)
» SEZ policy review committee holds final meeting Friday(1)
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter