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Nestle, Starbucks wrap up $7.15 billion licensing deal

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Nestle, Starbucks wrap up $7.15 billion licensing deal

Nestle, Starbucks wrap up $7.15 billion licensing deal
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DENIS BALIBOUSE(Reuters)
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ZURICH (Reuters) - Nestle <NESN.S> and Starbucks <SBUX.O> said on Tuesday they had concluded their licensing deal for the Swiss food giant to market the U.S. coffee maker's packaged coffees and teas around the world.

The $7.15 billion (5.61 billion pounds) deal grants Nestle perpetual rights to sell Starbucks products such as Starbucks, Seattle's Best Coffee and TeavanaTM/MC outside of the U.S. company's coffee shops, and will result in about 500 Starbucks employees shifting to Nestle.

(Reporting by John Miller; Editing by Michael Shields)

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