Luckin Coffee Shows Interest in Nestlé's Stake in Blue Bottle, Reports Bloomberg
Luckin Coffee's Acquisition Interest: Luckin Coffee is reportedly interested in acquiring Nestlé's stake in Blue Bottle Coffee as part of its strategy to expand globally, which may also include other brands like Coca-Cola's Costa Coffee.
Nestlé's Divestment Strategy: Nestlé is looking to sell Blue Bottle Coffee to streamline its portfolio and focus on more scalable brands, despite Blue Bottle generating approximately $420 million in annual revenue.
Background on Blue Bottle Coffee: Founded in 2002, Blue Bottle Coffee sold a 68% stake to Nestlé in 2017 for around $700 million, aiming to enhance Nestlé's high-end coffee offerings.
Market Impact: Shares of both Nestlé and Luckin Coffee are currently trading lower on the U.S. stock exchange amid these developments.
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