Nestle received the right to sell Starbucks products outside coffee shops network

TASS, 7 may. Swiss group Nestle won the right to sell products of the American company Starbucks coffee shops outside of the network. About it reported in a press release published Monday on the website Nestle.

“Nestle today announces the agreement granting the company the perpetual right to sell consumer products and food products Starbucks around the world outside the coffee shops of the company”, – stated in the message.

It is noted that under the deal, Starbucks will receive from Nestle down payment of $7.15 bn Also to work in Nestle, will move 500 employees Starbucks. The agreement does not include the right to sell ready-to-drink Starbucks beverages.

“This global Alliance coffee will bring the Starbucks experience into the homes of millions of people around the world thanks to the reach and reputation of Nestle” – presented in a press release, the words CEO Starbucks Kevin Johnson. Nestle expect that the transaction will have a positive impact on earnings per share of the company in 2019.

Now the agreement must receive the approval of the Supervisory authorities, the transaction is expected to be closed by the end of 2018.