Nestle, Starbucks Enter $7b Deal to Sell Packaged Coffees, Teas Worldwide

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Nestlé is buying the rights to market, sell and distribute Starbucks packaged coffee and tea around the world, the two companies announced on Monday.

The $7 billion deal is for Starbucks, Seattle’s Best Coffee, Starbucks Reserve, Teavana, Starbucks VIA and Torrefazione Italia. Those brands will now be included in Nestlé’s K-cup pods line-up.

“This is a great day for coffee lovers around the world,” proclaimed Nestlé CEO Mark Schneider.

The deal gives Nestlé,  known for its Nescafé and Nespresso coffees, a bigger presence in U.S. supermarkets. For Starbucks, it funnels their packaged brands into Nestlé’s global distribution network.

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