|Bid||61.05 x 0|
|Ask||0.00 x 0|
|Day's Range||745.00 - 745.00|
|52 Week Range||745.00 - 745.00|
|PE Ratio (TTM)||N/A|
|Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
LONDON/LOS ANGELES, Sept 15 (Reuters) - Nestle's high-priced purchase of a majority stake in California-based coffee bar chain Blue Bottle this week, highlights how big companies are seeking exposure to fast-growing premium brands driven by millenials. Since 2015 there have been nine coffee deals by JAB Holding Co, owned by Europe's billionaire Reimann family. With brands like Douwe Egberts and Tassimo sitting alongside Blue Bottle rival Intelligentsia, JAB now owns the second-biggest packaged coffee business behind Nestle, owner of Nescafe and Nespresso.
LONDON/LOS ANGELES, Sept 14 (Reuters) - Nestle has bought a majority stake in California-based Blue Bottle Coffee, marking a first step by the packaged coffee leader into the hipster world of speciality bars that serve high-end, single-origin and cold brewed coffees. The company behind Nescafe instant coffee and Nespresso brewers announced the purchase of a 68 percent stake of Blue Bottle on Thursday without disclosing financial terms. Like last week's purchase of Sweet Earth meatless foods, the deal sees the world's biggest maker of packaged food reaching out to the kind of choosy consumers who are turning away from its mass market brands like Nescafe coffee and Digiorno frozen pizza.
Starbucks offered catastrophic pay to employees affected by Hurricane Harvey and Irma.