Nestle buys blue bottle equity bite "coffee world apple"
In order to accelerate the expansion of the US coffee market, Nestl é acquired a 68% stake in Blue bottle Coffee of "Apple of the Coffee Industry", highlighting the shift in Nestl é's business strategy.
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Nestle, the Swiss food giant, has agreed to buy a 68 per cent stake in Blue Bottle, known as the "apple of the coffee industry", in an effort to accelerate its expansion of the US coffee market at a time of rapid growth in its coffee business, highlighting a shift towards retailing.
Nestl é announced on the 14th that it would buy a 68% stake in Blue bottle, but did not disclose the amount of the merger. Bloomberg quoted people familiar with the matter as saying that the marriage price was about $425 million. Nestl é's move means going directly to Starbucks and Keurig Green Mountain, the two major American coffee brands. The size of the US retail coffee market will expand from $2.9 billion to $4.4 billion by 2021, according to Euromonitor, a market research agency.
Blue bottle focuses on "boutique coffee" and attaches importance to customer experience, which is different from the style of general coffee chains, so it is known as "the apple of the coffee world" and is loved by many celebrities and people in the tech circle. In addition to selling goods online, there are also cafes in Washington, D.C., New York, Los Angeles, San Francisco and Tokyo. Nestle said on the 14th that the number of brick-and-mortar stores is expected to expand to 55 by the end of the year.
But many people worry that the unique brand style of blue bottle coffee will go out of taste in the future. Nestl é already has two coffee brands, such as Nespresso Coffee capsule and Nescafe instant coffee, which is the largest supplier of instant coffee in the United States and is equivalent to the representative of industrial coffee. Last year, Nestl é had revenue of $92.7 billion, so the deal, while relatively small, highlights Nestl é's priority of coffee development. Nestl é said in June that coffee was also a key investment area in addition to baby nutrition, bottled water, pets and consumer health.
Nestl é has recently launched frequent mergers and acquisitions in the United States, mainly in response to the rapidly changing tastes of consumers. Pressure from investors to boost profits and drive up share prices has also forced Nestl é to look for a growth strategy. Daniel Loeb, founder of hedge fund Third Point, issued an open letter in June advising Nestl é to set a formal profit target, expand its treasury stock and sell its stake in cosmetics giant Lloyd.
The rapid growth of the coffee business owned by food giant Nestle comes as Nestl é agreed to buy a 68% stake in Blue Bottle, known as the "Apple of the coffee industry", in an effort to accelerate its expansion of the US coffee market, highlighting a shift in Nestl é's strategy towards retailing.
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