STARBUCKS CORP
For the period ended Mar 31, 2024. Filed Apr 30, 2024.
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Mar 31, 2024 · Filed Apr 30, 2024
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Acquisitions, Divestitures and Strategic Alliance
Note 2: Acquisitions, Divestitures, and Strategic Alliance
On January 13, 2023, we sold the assets, primarily consisting of intellectual properties associated with the Seattle’s Best Coffee brand, to Nestlé for $110.0 million. The transaction resulted in a pre-tax gain of $91.3 million, which was included in gain from sale of assets on our consolidated statements of earnings for the quarter and two quarters ended April 2, 2023. Results from Seattle’s Best Coffee operations prior to the sale are reported in our Channel Development operating segment.
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