No, Nestle did not buy Starbucks.
While Nestle and Starbucks have a long-standing partnership, Nestle did not acquire the coffee giant. Instead, in 2018, Nestle acquired the rights to market Starbucks' coffee and tea products globally, excluding North America and Japan. This partnership allowed Nestle to expand its presence in the coffee market, while Starbucks could focus on its retail operations and expand its brand internationally.
Here are some key details about the Nestle-Starbucks partnership:
- Nestle acquired the rights to market Starbucks coffee and tea products globally, excluding North America and Japan. This means that Nestle can now produce and sell Starbucks-branded coffee and tea products in most countries around the world.
- The partnership does not include Starbucks' retail operations. Starbucks continues to operate its own stores and cafes worldwide.
- The deal is estimated to be worth $7.15 billion. This is a significant investment for Nestle, which is indicative of the importance of the Starbucks brand.
While Nestle did not buy Starbucks, the partnership has been beneficial for both companies. Nestle has gained access to a well-known and respected brand, while Starbucks has been able to expand its global reach and focus on its core retail business.
