Nestle in $7.1bn Starbucks coffee deal
New York, May 7: Food giant Nestle on Monday announced a $7.1 billion deal with Starbucks for the rights to sell the chains coffee, tea and food products in grocery stores and other outlets globally.
The Swiss consumer goods giant said 500 Starbucks employees would transfer over to its business but they would continue to be located in Seattle, the group's headquarters for the last 47 years.
The Nescafe and Nespresso owner would own the rights to market Starbucks' coffee, which it says generates $2 billion in annual sales, the BBC reported.
Nestle chief executive Mark Schneider, who in 2016 became the first outsider to run Nestle in almost 100 years and who is attempting to boost the company's profit through expansion, described it as a "significant step".
The company last sold its US sweets and chocolate business, including brands such as Crunch and Butterfinger, to Ferrero Group for 2.7 billion Swiss francs.
Schneider described the "global coffee alliance" with Starbucks as "a great day for coffee lovers around the world".
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Malpe: Mother of newborn found dead in toilet identified by police; legal action to be taken: SP
Udupi: Superintendent of Police Dr. K Arun has said that police have identified the mother of the newborn child whose corpse was found in a toilet in Malpe and that legal action will be taken against the woman.
The senior officer said that the corpse was found in the toilet at a building near the Jamia Masjid at Malpe Junction on Monday, April 14. In addition, blood stains were seen on the walls of the toilet. Malpe Police had booked a case in the matter based on a complaint filed by the Masjid board.
The team that investigated the matter has now identified the mother as Afreena, a local resident, the officer added.
The woman has told the police that she has one child. Although she opted for an abortion when she was around seven months into pregnancy for her second child, she failed to get medical help to do so. She then tried to abort the child herself and, suffering from intense pain in the stomach, she delivered her second child in the toilet near the mosque. The woman has stated further that she abandoned the newborn child there and left, the SP said.
The woman is currently under treatment in a hospital but will face the law once she is discharged, Dr. Arun added.
The Police Superintendent has said that audio clips are being shared on social media, allegedly stating that the child belongs to other people. Social media users are asked not to spread false information in this manner, he said and warned that legal action will also be taken people who provide such false information.
