Nestle pays $7.15 billion to license Starbucks products

Zurich (AFP) – Swiss food giant Nestle announced Monday it will pay $7.15 billion (5.97 billion euros) for the rights to market Starbucks products around the world, outside of the company’s coffee shops.

The agreement gives Nestle, which owns the Nescafe and Nespresso brands, a strong platform for continued growth in North America, the company said in a statement.