NSRGY - The Real Reason Starbucks Is Selling the Seattle's Best Brand
Starbucks (NASDAQ: SBUX) is selling its Seattle's Best coffee brand as it continues to narrow its vision about what the coffee experience means. Where once that meant bakeries, health foods, and coffee brands -- all at different price points -- today the beverage behemoth has winnowed the concept back toward its core mission of being a coffee shop that its customers love to visit.
It was CEO Howard Schultz who oversaw the expansion of Starbucks into becoming the everything coffee company, and he is the one who is seeing it return to its roots . The sale of Seattle's Best to Nestle (OTC: NSRGY) for an undisclosed sum marks his latest divestiture since returning earlier this year to the helm of the company he founded.
Because Schultz will turn the reins of the company over to his successor next year, he's using his time to create a leaner, more focused business that will be primed for its next leg of growth.
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The Real Reason Starbucks Is Selling the Seattle's Best Brand