(News Bulletin 247) – Nestlé celebrated on Wednesday the success of its five years of collaboration with the American coffee chain Starbucks during a ceremony organized at its headquarters in Vevey (Switzerland).
The agrifood giant had concluded an agreement in 2018 allowing it to market Starbucks products in mass distribution and out-of-home catering, that is to say outside the salons operated by the Seattle brand. .
As part of this transaction, Starbucks received an immediate cash payment of $7.15 billion.
Five years after the conclusion of the agreement, this activity generates annual sales of the order of 1.6 billion dollars for Nestlé, an amount less than the two billion dollars which characterized the activity before the licensing agreement.
But the two groups have nevertheless declared themselves satisfied with their collaboration, which is now available in more than 80 countries around the world.
Nestlé, which recently expanded its Starbucks ready-to-drink beverage offering in Southeast Asia and Oceania, said today it wants to offer new products in cold beverages and seasonal coffees, two categories particularly popular with consumers. the youngest.
Copyright (c) 2023 News Bulletin 247. All rights reserved.
I have over 8 years of experience working in the news industry. I have worked as a reporter, editor, and now managing editor at 247 News Agency. I am responsible for the day-to-day operations of the news website and overseeing all of the content that is published. I also write a column for the website, covering mostly market news.
