Nestle is Buying the Rights to Market Starbucks Coffee and Tea
Nestle is buying the rights to market, sell and distribute Starbucks packaged coffee and tea around the world.
The $7 billion deal covers the Starbucks brand, plus Seattle's Best Coffee, Starbucks reserve, Teavana, StarbucksVIA and Torrefazione Italia.
The deal gives Switzerland-based Nestle, known for its Nescafe and Nespresso coffees, a bigger presence in U.S. supermarkets.
For Starbucks, it funnels its packaged brands into Nestle's global distribution network. This global coffee alliance will bring the Starbucks experience to the homes of millions more around the world. Here's more from USA Today.