On August 28th, US time, Nestlé and Starbucks officially announced the completion of the transaction. Nestlé acquired the Starbucks coffee business for US$7.15 billion and permanently authorized Nestlé to sell Starbucks retail and catering products outside the Starbucks coffee shop worldwide.
It is worth noting that the agreement does not include ready-to-drink products and any products sold in Starbucks coffee shops. In other words, the store-to-store business still belongs to Starbucks.
It is reported that Nestlé Global Headquarters in Switzerland will lead the global development of the business. About 500 Starbucks employees in the US and Europe will be transferred to Nestlé's companies in Seattle and London.
The two companies will work closely together to develop Starbucks' existing product line, including roasted ground coffee, coffee beans, instant coffee and quantitative coffee.
In this cooperation with Starbucks, Nestlé is more concerned about expanding the full range of coffee products to acquire more young consumers.