Starbucks selling Seattle’s Best Coffee brand to Nestle

By DEE-ANN DURBIN
AP Business Writer

Starbucks is selling its Seattle’s Best Coffee brand to Nestle for an undisclosed amount. Switzerland-based Nestle has been in a partnership with Seattle-based Starbucks since 2018 and already distributes Starbucks-branded coffee in more than 80 markets worldwide. The company said acquiring Seattle’s Best will offer customers more choice. Nestle also owns the Nescafe, Nespresso and Blue Bottle coffee brands. Starbucks acquired Seattle’s Best Coffee in 2003 for $72 million, giving it a lower-priced brand. But Starbucks is currently focused on a costly makeover of its U.S. stores. Starbucks and Nestle said they expect the deal to close by the end of this year.