Nestle Reportedly To Buy Starbucks' Coffee, Drinks Trading Business

(RTTNews) - Swiss nutrition, health and wellness giant Nestle SA (NSRGY, NSTR.L) is close to a deal for parts of Starbucks Corp.'s (SBUX) business that sells coffee beans and drinks in supermarkets, according to media reports, citing person familiar with the situation. Terms were not immediately available.

An agreement will probably be announced Monday, according to the reports, and the deal would not involve the Seattle-based company's cafes.

Representatives for Nestle and Starbucks declined to comment.

Swiss financial blog Inside Paradeplatz reported the deal earlier Friday.