Nestle and Starbucks strike $7.15 billion coffee licensing deal

LOS ANGELES/LONDON (Reuters) – Swiss-based Nestle, the world’s largest food and beverage company, will pay Starbucks Corp $7.15 billion in cash for exclusive rights to sell the U.S. chain’s packaged coffees and teas around the world, tying a premium brand to Nestle’s global distribution muscle.

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