Nestle Pays $570M for Stake in US Coffee Chain
LONDON/LOS ANGELES • Nestle has bought a majority stake in California-based Blue Bottle Coffee, marking a first step by the packaged coffee leader into the hipster world of speciality bars that serve high-end, single-origin and cold-brewed coffees. The world's largest food and drinks company, which owns Nescafe instant coffee and Nespresso brewers, announced the purchase of a 68 per cent stake in Blue Bottle on Thursday without disclosing financial terms...
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