Starbucks Corporation (NasdaqGS:SBUX) reported that it plans to sell the Seattle's Best Coffee brand to Nestlé S.A. (SWX:NESN), with which the company established the Global Coffee Alliance in 2018. According to a media release, this transaction will further strengthen the Global Coffee Alliance by allowing both companies to focus on their core strengths. Nestle distributes Starbucks consumer products and foodservice beverages across more than 80 markets outside Starbucks retail stores under the Global Coffee Alliance.