Business Wire

Starbucks and Nestlé Form Global Coffee Alliance to Elevate and Expand Consumer Packaged Goods and Foodservice Categories Around the World

Del

Starbucks Corporation (NASDAQ: SBUX) today announced it will form a global coffee alliance with Nestlé S.A. to accelerate and grow the global reach of Starbucks brands in Consumer Packaged Goods (CPG) and Foodservice. With a shared commitment to ethical and sustainable sourcing of coffee, this alliance will transform, expand and elevate both the at-home and away-from-home coffee and related categories around the world.

As part of the alliance, Nestlé will obtain the rights to market, sell, and distribute Starbucks®, Seattle’s Best Coffee®, Starbucks Reserve®, Teavana™, Starbucks VIA® and Torrefazione Italia® packaged coffee and tea in all global at-home and away-from-home channels. Nestlé will pay Starbucks $7.15 billion in closing consideration, and Starbucks – with a focus on long-term shareholder value creation – will retain a significant stake as licensor and supplier of roast and ground and other products going forward. Additionally, the Starbucks brand portfolio will be represented on Nestlé’s single-serve capsule systems.

“This global coffee alliance will bring the Starbucks experience to the homes of millions more around the world through the reach and reputation of Nestlé,” said Kevin Johnson, president and chief executive officer, Starbucks. “This historic deal is part of our ongoing efforts to focus and evolve our business to meet changing consumer needs, and we are proud to work alongside a company that is committed to our shared values.”

“This transaction is a significant step for our coffee business, Nestlé’s largest high-growth category,” said Mark Schneider, CEO, Nestlé. “With Starbucks, Nescafé and Nespresso we bring together three iconic brands in the world of coffee. We are delighted to have Starbucks as our partner. Both companies have true passion for outstanding coffee and are proud to be recognized as global leaders for their responsible and sustainable coffee sourcing. This is a great day for coffee lovers around the world.”

This global alliance combines the strength and affinity of the Starbucks brand with the global reach of Nestlé and its iconic coffee brands, creating new growth opportunities in the established North American markets and unlocking expansion in international markets. In the United States, it also enhances Nestlé’s retail and Foodservice presence in coffee, complementing its position in instant coffee and super-premium single serve with Starbucks strong presence in K-cup® pods. As part of this perpetual global license agreement, Starbucks will lead in sourcing, roasting and Starbucks global brand management for the alliance, while the two companies will work closely together on innovation and go-to-market strategies to bring the best coffee to customers around the world.

The agreement is subject to customary regulatory approval and is expected to close this summer or early fall. The agreement excludes ready-to-drink coffee, tea and juice products.

Starbucks intends to use the after-tax proceeds from this up-front payment primarily to accelerate share buybacks and now expects to return approximately $20 billion in cash to shareholders in the form of share buybacks and dividends through fiscal year 2020. Additionally, the transaction is expected to be earnings per share (EPS) accretive by the end of fiscal year 2021 or sooner, with no change to the company’s currently stated long-term financial targets.

Starbucks will host a 30-minute investor conference call led by Kevin Johnson at 5 a.m. PDT on Monday, May 7, to provide further details. The conference call will be broadcast live over the Internet and can be accessed at http://investor.starbucks.com. A replay of the webcast will be available on the company's website until end of day Wednesday, June 6, 2018.

About Starbucks

Since 1971, Starbucks Coffee Company has been committed to ethically sourcing and roasting high-quality arabica coffee. Today, with more than 28,000 stores around the globe, the company is the premier roaster and retailer of specialty coffee in the world. Through our unwavering commitment to excellence and our guiding principles, we bring the unique Starbucks Experience to life for every customer through every cup. To share in the experience, please visit us in our stores or online at www.starbucks.com and www.news.starbucks.com.

Forward-Looking Statements

Certain statements contained herein are "forward-looking” statements within the meaning of the applicable securities laws and regulations. Generally, these statements can be identified by the use of words such as “anticipate,” “expect,” "believe," "could," "estimate," "feel," "forecast," "intend," "may," “plan," "potential," “project,” “should," “will," “would,” and similar expressions intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. These statements are based on information available to Starbucks as of the date hereof, and Starbucks actual results or performance could differ materially from those stated or implied, due to risks and uncertainties associated with its business. These risks and uncertainties include, but are not limited to, fluctuations in the U.S. and international economies and currencies, our ability to preserve, grow and leverage our brands, potential negative effects of incidents involving food or beverage-borne illnesses, tampering, adulteration, contamination or mislabeling, potential negative effects of material breaches of our information technology systems to the extent we experience a material breach, material failures of our information technology systems, costs associated with, and the successful execution of, the company’s initiatives and plans, the acceptance of the company’s products by our customers, the impact of competition, the failure of the parties to consummate the transactions due to commercial, regulatory or other reasons, as well as general economic and industry factors such as coffee, dairy and other raw materials pricing and availability, successful execution of internal performance and expansion plans, fluctuations in U.S. and other international economies and currencies, the impact of initiatives by competitors, the effect of legal proceedings, and other risks detailed in the Company's filings with the Securities and Exchange Commission, including the "Risk Factors" section of the Company's Annual Report on Form 10-K for the fiscal year ended October 1, 2017. The Company assumes no obligation to update any of these forward-looking statements.

Contact information

Starbucks:
Investor Relations
Tom Shaw, 206-318-7118
investorrelations@starbucks.com
or
Media:
Jaime Riley, 206-318-7100
press@starbucks.com

Om Business Wire

Business Wire
Business Wire
24 Martin Lane
EC4R 0DR London

+44 20 7626 1982http://www.businesswire.co.uk

(c) 2018 Business Wire, Inc., All rights reserved.

Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.

Følg saker fra Business Wire

Registrer deg med din epostadresse under for å få de nyeste sakene fra Business Wire på epost fortløpende. Du kan melde deg av når som helst.

Siste saker fra Business Wire

Samsung Bioepis Announces Results of Additional One-Year Follow-Up Study Comparing Event-Free Survival of SB3 Trastuzumab Biosimilar Candidate to Reference Trastuzumab by ADCC Activity8.12.2018 14:10Pressemelding

Samsung Bioepis Co., Ltd. today announced the results of an additional one-year follow-up study comparing event-free survival (EFS) of SB3, a biosimilar candidate referencing HERCEPTIN® 1 (trastuzumab), to reference trastuzumab (TRZ) by antibody-dependent cell-mediated cytotoxicity (ADCC) activity. ADCC is a key mechanism of action for trastuzumab. The study results are being presented at the 2018 San Antonio Breast Cancer Symposium® (SABCS) which is being held December 4-8, 2018 in San Antonio, Texas. For the study, patients with HER2 positive early or locally advanced breast cancer were randomly assigned to receive SB3 or TRZ concurrently with chemotherapy. Patients then underwent surgery followed by treatment with SB3 or TRZ. Following completion of such therapy, 367 patients participated in a long-term follow-up study, 186 of whom were treated with SB3 and 181 of whom were treated with TRZ. Within the group of 181 patients who received TRZ, 126 patients who were exposed to at least

Harvest Health & Recreation, Inc. to hold Conference Call to Discuss Q3 2018 Results and Performance Outlook7.12.2018 19:00Pressemelding

Harvest Health & Recreation, Inc. (HARV: CSE) will hold its Third Quarter 2018 earnings conference call on: Tuesday, December 11, 2018 8:30 AM (Eastern Time) Participating on the call to review Harvest Health & Recreation’s Third Quarter 2018 financial and operating results will be Jason Vedadi, Executive Chairman, Steve White, Chief Executive Officer, and Steve Gutterman, President. Third quarter results are available at www.harvestinc.com/news. To participate in the conference call, please dial: US toll free +1-866-777-2509 Canada toll free +1-866-605-3852 UK toll free +44-080-823-89064 International dial in +1-412-317-5413 Registration is required; please dial in at least ten minutes prior to the scheduled start time. Webcast: https://services.choruscall.com/links/harv181211.html The conference call will be available for replay for 3 months at: https://services.choruscall.com/links/harv181211.html. About Harvest Health & Recreation, Inc. Harvest Health & Recreation, Inc. is one of t

David Hall Wows Industry with New Technology Solution for Space Exploration7.12.2018 14:01Pressemelding

David Hall is one of history’s rare technological visionaries with the imagination and technical wherewithal to recognize a problem, conceive a solution, and then build something that works. On December 6 at the U.S. Chamber of Commerce’s event, LAUNCH: Industry Taking Off, David Hall presented his world-changing solution to a longstanding problem: how to carry materials and people into space safely, reliably, and efficiently. The audience of industry, military, and policy representatives heard from Hall as well as keynote remarks from Secretary of the Air Force, Heather Wilson; NASA Administrator, Jim Bridenstine; Under Secretary of Defense for Research and Engineering, Michael Griffin; NOAA Deputy Administrator, Dr. Neil Jacobs; and Commerce Secretary, Wilbur Ross. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20181207005226/en/ Velodyne Lidar, Inc. Founder and CEO David Hall (Photo: Business Wire) Hall’s proposal involves

Raj Subramaniam Named as FedEx Express President and CEO7.12.2018 14:00Pressemelding

FedEx Corp. (NYSE:FDX) announced today that David L. Cunningham, president and chief executive officer of FedEx Express, will retire effective December 31, 2018. Raj Subramaniam, currently executive vice president, chief marketing and communications officer of FedEx Corporation, will succeed Cunningham effective January 1, 2019. Cunningham began his FedEx career in 1982 in operations at the FedEx Express World Hub in Memphis, Tenn. Over his more than 36-year career, David held numerous leadership positions across the FedEx Express operating company in multiple regions, including chief operating officer and president - international, FedEx Express Asia Pacific chief financial officer, and regional president of the Asia Pacific region. Most recently as president and CEO of FedEx Express, David has been responsible for the leadership and direction of the FedEx Express group, which includes FedEx Express and TNT. Subramaniam has been with FedEx for more than 27 years and has held various e

CORRECTING and REPLACING The Dedica Anthology Completes Its Planned Refinancing7.12.2018 11:43Pressemelding

The first sentence of the release should read: Milan-based hotel group The Dedica Anthology is pleased to announce that it successfully completed its planned €337 million refinancing. (instead of Milan-based hotel group The Dedica Anthology is pleased to announce that today it successfully completed its planned €337 million refinancing). The corrected release reads: THE DEDICA ANTHOLOGY COMPLETES ITS PLANNED REFINANCING Milan-based hotel group The Dedica Anthology is pleased to announce that it successfully completed its planned €337 million refinancing. The lender is Blackstone Real Estate Debt Strategies, and the facilities will refinance legacy loans and provide additional capital for The Dedica Anthology – owned by global alternative investment firm Värde Partners – to invest significantly in its estate. London-based real estate specialist JLL advised Värde Partners on the transaction. Stephen Alden, CEO of The Dedica Anthology, commented: “We are delighted to have completed this c

The Dedica Anthology Completes Its Planned Refinancing7.12.2018 10:48Pressemelding

Milan-based hotel group The Dedica Anthology is pleased to announce that today it successfully completed its planned €337 million refinancing. The lender is Blackstone Real Estate Debt Strategies, and the facilities will refinance legacy loans and provide additional capital for The Dedica Anthology – owned by global alternative investment firm Värde Partners – to invest significantly in its estate. London-based real estate specialist JLL advised Värde Partners on the transaction. Stephen Alden, CEO of The Dedica Anthology, commented: “We are delighted to have completed this complex refinancing. Our own team, the board, our advisors and the lending group have worked hard in collaboration to achieve this excellent result. Our focus is now fully on building The Dedica Anthology brand, carrying out strategic renovation and restoration work on our distinctive properties, strengthening our team and growing our business.” Alessandro Grassivaro, CFO of The Dedica Anthology, added, “Dedica now