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 Headlines

5 hours ago in Local

Central Illinois Mitsubishi Plant Sold to Liquidation Firm

mitsubishi

Maynards Industries will take possession of the property in Normal on June 1.

5 hours ago in Local

Illinois Man Charged With Threatening Prosecutor

arrest clipart

Travis Withers of Brooklyn, Illinois has been charged with threatening the life of St. Clair County State's Attorney Brendan Kelly.

5 hours ago in Local

Flooding Leaves Behind Sand, Debris in Illinois County

flood clip art

Debris piles and massive sand deposits were left behind after waters went through the breach of the Len Small Levee.

5 hours ago in Local

U of Illinois Reaches Agreement with Non-tenured Faculty

university illinois

A contract ratification vote will be held later in the week.

1 day ago in Local

New Director Named to ALPLM

FILE - In this Feb. 10, 2012 file photo, school students enter the "White House" as a life-size Abraham Lincoln replica stands outside, while touring the Abraham Lincoln Presidential Library and Museum in Springfield, Ill. The chairman of the foundation behind the Library and Museum says fundraising is drying up because of tensions between library directors and the state agency that oversees it.

Governor Rauner announces two new appointees, one to the Lincoln Presidential Museum and Library.