Nestle to pay $7.15 billion to sell Starbucks products
World's biggest coffee company Nestle will pay $7.15 billion for the rights to sell US coffee giant Starbucks' coffee products through Nestle's global distribution network. Nestle will take on about 500 Starbucks employees as part of the deal. Nestle has said that Starbucks' out-of-shop sales generate $2 billion in annual revenues.