August 28, 2018 / 5:44 AM / in a month

Nestle, Starbucks wrap up $7.15 billion licensing deal

ZURICH (Reuters) - Nestle (NESN.S) and Starbucks (SBUX.O) said on Tuesday they had concluded their licensing deal for the Swiss food giant to market the U.S. coffee maker’s packaged coffees and teas around the world.

The $7.15 billion (5.61 billion pounds) deal grants Nestle perpetual rights to sell Starbucks products such as Starbucks, Seattle’s Best Coffee and TeavanaTM/MC outside of the U.S. company’s coffee shops, and will result in about 500 Starbucks employees shifting to Nestle.

Reporting by John Miller; Editing by Michael Shields

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