Advertisement
Advertisement

Nestle and Starbucks Extend Partnership to Ready-to-Drink Coffee

By:
Reuters
Updated: Jul 27, 2021, 07:26 UTC

ZURICH (Reuters) - Food giant Nestle and U.S. coffee chain Starbucks are extending their partnership to launch ready-to-drink coffee beverages in markets across Southeast Asia, Oceania and Latin America, the two partners said.

Logo is pictured on the Nestle research center in Lausanne

In this article:

Nestle and Starbucks signed a global licensing deal in 2018 that granted Nestle the perpetual rights to market Starbucks packaged coffee and food service products globally. The initial agreement excluded goods sold in Starbucks coffee shops and ready-to-drink products.

“With our expansion plans into ready-to-drink coffee, Nestle will continue to build on its global leadership in coffee and will benefit from new growth opportunities in a segment that is developing rapidly and attracting new and younger consumers,” David Rennie, head of Nestle coffee brands, said in the statement late on Monday.

Under the extended partnership, Nestle and Starbucks will roll out products like Starbucks Frappuccino and Doubleshot to select markets in Southeast Asia, Oceania and Latin America from next year and also develop new products, the two partners said.

Nestle’s sales of Starbucks products reached 2.7 billion Swiss francs ($2.95 billion) last year.

($1 = 0.9163 Swiss francs)

(Reporting by Silke Koltrowitz)

About the Author

Reuterscontributor

Reuters, the news and media division of Thomson Reuters, is the world’s largest international multimedia news provider reaching more than one billion people every day. Reuters provides trusted business, financial, national, and international news to professionals via Thomson Reuters desktops, the world's media organizations, and directly to consumers at Reuters.com and via Reuters TV. Learn more about Thomson Reuters products:

Did you find this article useful?

Advertisement