STARBUCKS CORP
For the period ended Jun 30, 2024. Filed Jul 30, 2024.
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Jun 30, 2024 · Filed Jul 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 three quarters ended July 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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