Nestle is paying $7.2 billion to sell Starbucks coffee
SEATTLE -- Nestle and Starbucks are teaming up to create a "global coffee alliance." Under the deal, Nestle will pay $7.2 billion to market, sell and distribute Starbucks' packaged coffees and teas around the world, the companies said Monday. Nestle already has a significant presence in the coffee business with well-known brands like Nescafe and Nespresso. It's now adding Starbucks coffee and tea products to the list.
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