Nestle | Pixr8 News

Nestle, the Swiss-based multinational food giant is set to buy Starbucks’ rights to sell the US coffee chain’s products around the world in a global partnership worth $7.15 Billion to be paid in cash as both companies aim at reviving their coffee empires. The announcement on the deal for a business with $2 billion in sales consolidates Nestle’s position as the leading coffee company in the world and will strengthen its place at the top of a fast-evolving market. Starbucks shared that the proceeds will be used to speed-up its share buybacks and the money raised from the deal will serve to add to its earnings per share (EPS) by latest 2021. While the deal will not include selling Nestle branded items in Starbucks’ cafes, the Swiss-based company expects the deal to sell Starbucks bagged...

The district administration of Shahjahanpur, UP, has slapped a fine on Nestle India and its distributors after its popular noodles brand Maggi allegedly failed to pass the lab test, even as the FMCG major maintained that "its a case of application of incorrect standards". The district administration had imposed a fine of Rs 45 lakh on Nestle, Rs 15 lakh on its three distributors and Rs 11 lakh on its two sellers. According to the district authorities, it had collected the samples last year in November and sent them for lab test, which had found ash content above the permissible limits of human consumption. Questioning the lab findings, Nestle India said it has not received the order yet and would file an appeal urgently once it receive the order. "While we have not received the o...

Tag: Nestle

Nestle To Pay $7.15 Bn to Tie-up With Starbucks in Coffee Business

Could Maggi Be Banned Again? Ash Content Beyond Permissible Limits Found