Nestlé To Acquire Seattle's Best Coffee Brand From Starbucks; Terms Undisclosed

(RTTNews) - Nestlé (NSRGY.PK, NSTR.L) said Wednesday that it plans to acquire the Seattle's Best Coffee brand from Starbucks. Both companies have agreed to keep the terms of this transaction confidential.

Nestlé expects to close the transaction by end of 2022, subject to respective Board and customary regulatory approvals.

Nestlé said that since forming the Global Coffee Alliance in 2018, the companies have brought a wide range of premium coffee products to new markets at a fast pace - including whole bean coffee, roast and ground coffee as well as Starbucks capsules for Nespresso and Nescafé Dolce Gusto proprietary systems.