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Nestlé closes $7.15B deal to sell Starbucks products

Starbucks will shift 500 employees to Nestlé as part of a $7.15 billion deal that grants the Swiss company perpetual rights to sell the coffee giant’s products.

Nespresso maker Nestle said it has sealed a deal to market the products of US coffee giant Starbucks around the world, outside of its cafes.

Swiss food giant Nestle, which also produces Nescafe instant coffee, had announced in May it would pay $7.15 billion (6.13 billion euros) for the rights to market Starbucks coffee globally.