The rating is salty to the American coffee chain Starbucks. She was sentenced on Tuesday to pay $ 2.7 billion food giant Mondelez for interrupting their distribution agreement coffee shops. “Independent Arbitration between Kraft Foods (which is derived Mondelez) and Starbucks ordered today at Starbucks to pay more than $ 2.7 billion in cash to compensate Mondelez have unilaterally terminated the contract that bound “on the distribution of Starbucks brand coffee in supermarkets, says the press Mondelez.
The amount is to compensate for Mondelez “the value of market contract to which is added a premium and interest for improper termination, “says the text.” We are pleased that the arbitration has validated our position that Starbucks violated our contractual relationship lasting and successful without proper compensation,” said Gerd Pleuhs, legal director of Mondelez.
The group ensures to pay the required sum Starbucks announced in November 2010 to end a contract with Kraft on distribution in supermarkets under the brand of coffee. According to Kraft, his contract with the coffee chain dates back to 1998 and was of indefinite duration. Kraft said he did multiply sales to $ 500 million per year over the period.
As for Starbucks group, said in a statement to be “happy” that arbitration is “finished” even if “we strongly disagree with his conclusion “.
The Seattle group (northwestern United States) repeated the arguments he insists from the beginning of the dispute: he accuses Kraft of having “failed in its responsibilities” which was, according to him, translated by “erosion of its brand.” Starbucks decided to sell its coffee bags directly from distributors. The group claims to have “sufficient liquidity” to pay the required sum.
Fine of nearly $ 3 billion for Starbucks
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