The week of the markets opens with the pact of the cafés. Nestlé e Starbucks have signed a global alliance: the Swiss giant will pay 7,15 billion dollars (equal to 5,97 billion euros) in the coffers of the most famous bar chain in the world to acquire an exclusive license for some Starbucks brand products.
These are products that are marketed worldwide in the Starbucks coffee network, generating a turnover of around two billion a year. Thanks to this agreement, Nestlé will be able to sell the products in question also outside the bars of the American chain. Nestlé is also expected to hire 500 Starbucks employees.
The agreement will allow the Swiss group (owner, among others, of Nescafè and Nespresso) to strengthen in North America, with benefits that should be recorded starting from the 2019 financial statements.
Instead, Starbucks said it will use the proceeds to accelerate share buybacks and that the deal will impact earnings per share (EPS) at the latest from 2021.
The one just signed is "an important transaction for our coffee businesses - commented Mark Schneider, general manager of Nestlé - the main one of the categories with strong growth".
"This global coffee alliance will bring the Starbucks experience into the homes of millions of people around the world through Nestlé's reach and reputation," according to Starbucks CEO and President Kevin Johnson.
The news of the agreement was appreciated by the markets, which reacted positively: the Nestlé share gained 0,6 on the Zurich Stock Exchange, while Starbucks, driven by rumors, closed Friday 4 May up 2,76%.
Read also: Ferrero buys from Nestlé and becomes the 3rd US confectionary group.
