Freshfields advises Starbucks Corporation on its $7.15 billion global coffee alliance with NestléFreshfields Bruckhaus Deringer LLP (‘Freshfields’) has advised Starbucks Corporation in connection with the formation of a global coffee alliance with Nestlé S.A. to accelerate and grow the global reach of Starbucks brands in consumer packaged goods (CPG) and foodservice.
As part of the alliance agreement, Nestlé will obtain the rights to market, sell, and distribute Starbucks®, Seattle’s Best Coffee®, Teavana™, Starbucks VIA® and Torrefazione Italia® packaged coffee and tea in global at-home and away-from-home channels. Nestlé will pay Starbucks $7.15 billion in closing consideration, and Starbucks will retain a significant economic stake as licensor and supplier of roast and ground and other products going forward.
The transaction is subject to customary closing conditions and is expected to complete in the second half of 2018.
“We’re thrilled to act for Starbucks on a transaction of this scale and significance,” said Matthew Herman, Freshfields’ co-head of global M&A, who led the Freshfields team on the deal. “This deal highlights our firm at its best: delivering fully integrated and international advice in a transaction that is consequential to our clients, in a way that is completely aligned with our mission to provide our clients with the tools to cross borders with confidence.”
In addition to Herman, the Freshfields team included NY-based M&A counsel Sebastian Fain and US technology head Mena Kaplan. Howard Klein led the firm’s global employee benefits team, Claude Stansbury provided tax advice, and Mary Lehner led the Freshfields antitrust team.
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