nestle

Nestle to sell Starbucks products in $7B deal

SEATTLE (AP) - Nestle has entered into an agreement to bring Starbucks products to millions of homes worldwide.The Swiss-based company announced Monday that Starbucks will receive an up-front cash payment of $7.15 billion for a business which generated annual sales of $2 billion. Approximately 500 Starbucks employees will join Nestle, and operations will continue to be located in Seattle.