News

Starbucks gives up exclusive license to Keurig pods

Starbucks gives up exclusive license to Keurig pods

COFFEE: The terms are changes to the five-year agreement the two companies reached last year that tripled the number of Starbucks drinks sold in K-Cups, adding Seattle's Best and Torrefazione Italia coffees, Teavana teas and Starbucks cocoa. Photo: Associated Press

(Reuters) – Starbucks Corp will get a wider selection of Keurig Green Mountain Inc’s single-serve K-Cup coffee packs, in exchange for giving up the exclusive license for Keurig’s highest-end coffee packs, the companies said on Friday.

The terms are changes to the five-year agreement the two companies reached last year that tripled the number of Starbucks drinks sold in K-Cups, adding Seattle’s Best and Torrefazione Italia coffees, Teavana teas and Starbucks cocoa.

Under terms of the 2013 deal, which replaced their first agreement in 2011, Starbucks kept the exclusive rights to be the licensed “super-premium coffee” brand on the Keurig K-Cup platforms.

The Keurig machine popularized the use of pods, small packets containing everything from coffee, tea or hot chocolate powder, for easy, in-home, one-cup brewing of hot drinks.

The company has sold more than 30 million Keurig machines around the world for use in homes, offices and other locations.

(Reporting by Phil Wahba in New York; Editing by Paul Simao)

Recent News

in Music

KISS to star in new ‘Scooby-Doo’ movie

kiss

Gene Simmons, Paul Stanley, Eric Singer and Tommy Thayer have voiced themselves in the animated project.

in Viral Videos

Promposal FAIL

19-overlay3

A high schooler's prom proposal doesn't go as planned.

in Music

This week’s top rock tracks

foofighters

LISTEN: This week's top rock songs, according to the latest Billboard chart.

in Music

Record Store Day celebrates all things indie

recordstoreday

Record Store Day celebrates thousands of independent music stores across America.

in Music

Rock & Roll Hall of Fame inducts its 30th class

joanjettbilliejoarmstrong

Green Day, Joan Jett, Lou Reed, Ringo Starr and others will be welcomed as the 2015 inductees into the Rock & Roll Hall of Fame.