Nestlé confirms Blue Bottle buyer as coffee stands out as “star” performer [Yahoo! Finance]
NESTLE S.A S/ADR (NSRGY)
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Source: Yahoo! Finance
Blue Bottle Coffee was the subject of media speculation in December suggesting Nestlé had hired advisors to weigh up options for the business, including a possible sale. Further speculation then emerged in March that private-equity firm Centurium Capital might be the suitor, which has now proved to be the case. Nestlé buried the confirmation announcement at the foot of its first-quarter results statement today (23 April), saying briefly: “Nestlé has agreed the sale of Blue Bottle Coffee to Centurium Capital. The transaction is subject to the customary conditions and is expected to close during H1-26.” The Swiss group acquired a controlling interest in Blue Bottle in 2017 in a deal that valued the US business at about $700m. The chain runs around 100 outlets across the US and Asia. It also sells packaged coffee in stores such as Target and Save Mart. Just Drinks has asked Centurium Capital to confirm the deal. Nestlé did not put out a full statement on the transaction but CE
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