Nestlé S.A. has acquired the global rights to sell packaged retail products from coffee giant Starbucks Corporation for $7.15 billion plus additional royalties. The agreement will “accelerate and grow the global reach of Starbucks brands in Consumer Packaged Goods (CPG) and Foodservice,” according to a press release from Starbucks. This segment, which generated annual sales of $2 billion, includes whole bean and ground coffee products under the Starbucks brand, as well as coffee and tea products marketed by Seattle’s Best Coffee, Starbucks Reserve, Teavana, Starbucks VIA and Torrefazione Italia in at-home and away-from-home channels.

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