Nestle shook hands to obtain Starbucks’s brightest Coffee, Starbucks exclaimed on Tuesday
Since 2018, Vevey, Switzerland-based Nestle, and Seattle, Washington-based Starbucks have been working together to distribute Starbucks-branded coffee in more than 80 markets around the world.
Seattle’s Best Coffee was purchased by Starbucks in 2003 for $72 million. Starbucks now has access to Seattle’s Best contracts with retailers and food service companies and a more affordable brand.
However, Starbucks is currently concentrating on an expensive renovation of its North American stores. The business announced last month that it would spend $450 million improving the efficiency of its stores in 2019.
In an effort to prevent a campaign to unionize its stores, the company has also spent more than $1 billion over the past year improving worker pay and benefits.