Nestle and Starbucks are joining forces. The companies announced Monday they are forming a "global coffee alliance."
Nestle will pay 7.2 billion dollars in order to globally distribute, market and sell packaged products from Starbucks.
The deal only applies to Starbucks' packaged products sold outside the U.S. and doesn't include any ready-to-drink coffee, tea or juices. Regulators still need to approve the merger.
It's expected to be finalized within the next few months.
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