Nestle may sell Blue Bottle Coffee chain: Report
Nestle is thinking about selling its Blue Bottle Coffee chain as part of a big strategy shake-up led by their new CEO.
The company wants to cut back on physical stores and has brought in Morgan Stanley to help figure things out.
Nestle bought most of Blue Bottle in 2017 for about $700 million, but it might go for less this time around.
What else is changing?
Blue Bottle isn't the only brand under review—Nestle is also looking at selling off its vitamin brands like Nature's Bounty and water labels such as Perrier and S.Pellegrino.
They run nearly 100 Blue Bottle cafes across the US and Asia, but even if they sell the stores, they might keep the rights to keep selling Blue Bottle products.
These moves are part of Nestle's efforts to streamline its portfolio and exit physical retail operations.