Starbucks sells Seattle’s Best Coffee brand to Nestlé, Marketing & Advertising News, ET BrandEquity
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Starbucks sells Seattle’s Best Coffee brand to Nestlé, Marketing & Advertising News, ET BrandEquity
Starbucks sells Seattle’s Best Coffee brand to Nestlé
Starbucks to sell Seattle’s Best Coffee brand to Nestlé
Jeffery L. Parker October 20, 2022 Coffee brand Comments Off on Starbucks sells Seattle’s Best Coffee brand to Nestlé, Marketing & Advertising News, ET BrandEquity 4 Views
November 17, 2022
October 26, 2022
October 20, 2022
Starbucks sells its Seattle’s Best Coffee brand to Nestle for an undisclosed amount.
Nestlé, which is based in Vevey, Switzerland, has partnered with Seattle-based Starbucks since 2018 and already distributes Starbucks-branded coffee in more than 80 markets around the world.
David Renie director of nestle coffee brands , said the acquisition of Seattle’s Best will continue to expand the company’s portfolio and provide more choice for customers. Nestlé also owns the Nescafé, Nespresso and Blue Bottle brands.
Starbucks acquired Seattle’s Best Coffee in 2003 for $72 million. The deal gave Starbucks a cheaper brand and access to Seattle’s best deals with grocers and food service providers.
But Starbucks is currently focused on an expensive transformation of its North American stores. The company said last month it plans to spend $450 million next year to make its stores more efficient.
The company has also spent more than $1 billion over the past year to improve workers’ compensation and benefits as it tries to head off a campaign to unionize its stores.
“We are confident that Nestlé will continue to grow the Seattle’s Best Coffee brand as we focus on our strategy to enhance the premium coffee experience for consumers through the Starbucks brand,” said Michael Conway, President of the Starbucks Channel Development Group, in a statement.
Nestlé and Starbucks said they expect the deal to close later this year.
The company would launch its MyNestle D2C platform in Delhi-NCR.
In the first part of a masterclass on multi-sensory marketing, ETBrandEquity brings together top scholars and practitioners to dwell on how successful brands engage consumers by harnessing the power of our multiple senses. This seven-part series will appear once every fortnight.
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