An
arbitrator has concluded that Starbucks must pay $2.76 billion settle
a dispute with Kraft over coffee distibution.
The
two consumer products companies had been locked in a fight for three
years after Starbucks Corp. fired Kraft as it distributor of packaged
coffee to grocery chains.
The
arbitrator determined that the Starbucks must pay $2.23 billion in
damages and $527 million in attorney fees , Starbucks and Mondelez
said Tuesday.
Illinois-based
Mondelez International Inc … which spun off Kraft Foods Group in
October 2012 will get the award, Mondelez , whose brands included
Cadbury , Oreo and Tang said that it plans use the money left after
expenses and taxes to buy back stock.
Source:
ctvnews
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