Nestlé, a Swiss transnational food and drink company, had successfully sealed a deal with the coffee giant, Starbucks in order to market the products of the latter.
The food and beverage company had been garnering attention after they had a series of acquisition and partnership to different coffee companies like Chameleon Cold Brew. Now, the company has made an even bigger noise after they partnered with Starbucks.
Nestlé, best known for its instant coffee product, Nescafe, obtained a right to market Starbucks coffee around the world after paying $7.15 billion. The company aims to bring together the most “iconic coffee brands” to offer a much better product to its loyal customers.
The combination of the two different brands had brought each one of them a much bigger opportunity to further expand their businesses.
Especially now that Nestlé’s CEO, Mark Schneider made it to the point that coffee is the center of their company’s growth and development, the partnership between them became a foundation for Schneider’s goal.
The company had benefited a lot from the past event, considering that along with the right to market Starbucks’ products, some employees of the coffee giant- based in the United States in Europe, will soon join Nestle.