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

in Entertainment

This weekend in entertainment history

Fresh
seinfeld

A look back on some of Hollywood's most memorable headlines.

in Music

Colbie Caillat engaged

Colbie Caillat performing as part of the Star 94 Jingle Jam 2013 at The Arena at Gwinnett Center on Monday, Dec. 16, 2013, in Atlanta.

Colbie Caillat celebrated her 30th birthday with an engaged to her musician boyfriend.

in Music

This week’s top pop songs

weeknd

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

in Music

This week’s top R&B tracks

weeknd

LISTEN: This week's top R&B tracks, according to the latest Billboard chart.

in Entertainment

Netflix: What’s coming and going in June

netflix

Find out what you should watch this weekend and get a sneak peak at what's being added next month.