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Starbucks to Sell Seattle's Best Coffee Brand to Nestlé; Michael Conway and David Rennie Comment

Starbucks to Sell Seattle's Best Coffee Brand to Nestlé; Michael Conway and David Rennie Comment


SEATTLE, WA 
Friday, October 21st, 2022

Two brand behemoths have pulled back the curtain on a pivotal deal, as Starbucks recently announced it will be selling its Seattle’s Best Coffee brand to Nestlé.

Michael Conway, Group President of Channel Development, Starbucks“We continue to deepen our partnership with Nestlé to deliver the best of the Starbucks Experience to our customers in channels outside of our retail stores,” said Michael Conway, Group President, Starbucks International and Channel Development. “We’re confident that Nestlé will continue to grow the Seattle’s Best Coffee brand as we focus on our strategy to elevate the premium coffee experience for consumers through the Starbucks brand.”

Nestlé and Starbucks have been in partnership since 2018, and Nestlé already distributes Starbucks-branded coffee in more than 80 markets worldwide, the source noted. This acquisition will allow Nestlé to continue building its portfolio—which already includes the Nescafé, Nespresso, and Blue Bottle brands—while offering consumers more choice, according to David Rennie, head of Nestlé’s coffee brands.

Starbucks recently announced it will be selling its Seattle’s Best Coffee brand to Nestlé

Nestlé and Starbucks noted in the release they expect the transaction to close later this year, though an amount has not been disclosed.

David Rennie, Deputy Executive Vice President and Head, Nestlé Coffee Brands“Our partnership with Starbucks has confirmed Nestlé’s leading position in the dynamic and growing global coffee market,” said David Rennie, Head of Nestlé Coffee Brands. “With the well-known Seattle’s Best Coffee brand, we will continue to build our leadership in coffee by offering consumers more choice for their everyday coffee.”

Starbucks acquired Seattle’s Best Coffee for $72 million in 2003, reported KOM News, giving the company a lower-priced brand and access to Seattle’s Best contracts with grocers and foodservice providers. Now, the coffee giant is looking to make over its North American stores, with plans to spend $450 million next year to increase overall efficiency. This is an extension of the $1 billion the company has spent over the last year to enhance its worker pay benefits.

To keep track of this pivotal deal and more, keep clicking on DMN.

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