Starbucks (NASDAQ:SBUX) is selling the Seattle’s Best Coffee brand to Nestle. The move will enable both parties to focus on their core expertise.
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Starbucks set up the Global Coffee Alliance with Nestle in 2018 and this sale strengthens the alliance. Together, the two companies have introduced a number of products and Nestle already distributes products from Starbucks to over 80 markets.
The deal is expected to close by the end of this year.
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