Nestlé agrees to acquire Seattle’s Best Coffee brand from Starbucks
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Starbucks (NASDAQ:SBUX) said Wednesday it plans to sell the Seattleâs Best Coffee brand to NestlÃ© (OTCPK:NSRGF).
The terms of the deal were not disclosed.
The move will further strengthen the Global Coffee Alliance by allowing both companies to focus on their core strengths.

Starbucks said that since forming the Global Coffee Alliance in 2018, the companies have introduced a wide range of premium coffee products to new markets.
Through the Global Coffee Alliance, the companies will continue to closely work together to develop new, innovative products and go-to market strategies to amplify the reach and expand the unique experience of the Starbucks brand locally and globally.
The transaction is expected to close by end of 2022.
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The Seeking Alpha Quant Rating on SBUX flipped to Hold earlier this week.