UK: The Nescafe and Nespresso owner will own the rights to market Starbucks’ coffee, which it says generates $2bn in annual sales.
Nestle chief executive Mark Schneider described it as a “significant step”.
Mr Schneider, who in 2016 became the first outsider to run Nestle in almost 100 years, is attempting to boost the company’s profit through expansion.
The Swiss consumer goods giant said 500 Starbucks employees will transfer over to its business but they will continue to be located in Seattle, the group’s headquarters for the last 47 years
