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Nestle, Starbucks Expect Coffee Alliance To Boost Growth

From: foxbusiness.com

ZURICH (Reuters) – Nestle and Starbucks expect new products developed under their coffee alliance will help to increase sales, executives from the two companies told Reuters in an interview this week.

In May 2018, Nestle paid $7.15 billion for rights to sell Starbucks packaged coffees teas around the world, freeing up Starbucks to focus on its cafe business. The alliance is expected to help Nestle to tackle tough competition in the coffee market from rivals such as JAB Holdings.

“We expect this business to continue to grow for the foreseeable future,” Nestle’s head of coffee brands David Rennie said.

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