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.
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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