You May Soon See Starbucks Coffee In Your Nescafe And Nespresso Pods
10 May, 2018, 14:07 | Author: Franklin Nunez
Nestle will use the Starbucks brand in its Nespresso and Dolce Gusto capsule systems next year.
Pablo Zuanic, an analyst at Susquehanna International Group, noted that the deal will increase Nestle's share of the United States coffee market - which now stands at just 3%.
Nestle won't get any physical assets in the deal.
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Starbucks has sold the rights to their bagged coffee and coffee pods to Nestlé for £5.28 billion. The company had originally slated the opening of its first Italian branch for early a year ago but the project began to run behind schedule and as delays mounted Starbucks made a decision to take on Italy's coffee drinkers with a landmark opening. A willingness to pay for exotic beans and speciality drinks means companies can brew up richer profit margins than in mainstream packaged food.
The Seattle-based company said it now expected to return some $US20 billion to shareholders through buy-backs and dividends by 2020. Why so much? Nescafe and Nespresso don't carry anywhere near the heft in America that the Starbucks brand does, with $2 billion in annual sales.
As part of the deal, about 500 Starbucks employees will join Nestle but operations will remain in Seattle.
Starbucks has been rapidly expanding its business in China and expects it to become the company's largest market in the future, even as it reported a global drop in April regarding the quarterly traffic it has seen, as it battled both high and low-end traffic at home.
Starbucks shares gained 3.2 per cent in premarket trading in NY.
Starbucks has announced a new partnership with Nestlé in an effort to expand its global reach of prepackaged java.
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Other big players are growing as well, including Italy's Lavazza, which is now the world's No. 3. It said the deal would add to earnings per share by 2021. Recent purchases include vegan and vegetarian product maker Sweet Earth and a minority stake in Freshly, a company that sells prepared meals directly to US consumers. It sold its Tazo tea brand to Unilever for $384 million and closed underperforming Teavana retail stores.
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