May 4, 2018 / 3:40 PM / a year ago

Nestle close to deal with Starbucks on its grocery business - reports

LONDON, May 4 (Reuters) - Nestle, the world’s largest packaged food company, is close to a deal with Starbucks Corp’s on its grocery business, according to media reports on Friday.

An agreement will probably be announced on Monday, according to Bloomberg, who cited a person familiar with the situation.

It added that the deal was for the part of the business that sells coffee beans and drinks in supermarkets, and does not involve any of the Seattle-based company’s stores.

The news was first reported by Swiss financial blog Inside Paradeplatz.

Reporting by Martinne Geller. Editing by Jane Merriman

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