Nestle and Starbucks said on Tuesday they had concluded their licensing deal for the Swiss food giant to market the U.S. coffee makers packaged coffees and teas around the world.

The US$7.15 billion deal grants Nestle perpetual rights to sell Starbucks products such as Starbucks, Seattles Best Coffee and TeavanaTM/MC outside of the U.S. companys coffee shops, and will result in about 500 Starbucks employees shifting to Nestle.

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