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)

Latest Stories

in Entertainment

Charges dropped against Phillip Seymour Hoffman’s suspected drug dealer

Fresh
In this Jan. 19, 2014 photo, Philip Seymour Hoffman poses for a portrait at The GenArt Quaker Good Energy Lodge during the Sundance Film Festival, in Park City, Utah. Hoffman, who won the Oscar for best actor in 2006 for his portrayal of writer Truman Capote in "Capote," was found dead Sunday, Feb. 2, 2014, in his New York apartment. He was 46.

Drug-selling charges against a friend of late film star Philip Seymour Hoffman have been dropped after officers neglected to read the suspect his Miranda rights.

in Entertainment

Hayao Miyazaki, Harry Belafonte among winners of honorary Oscars

Fresh
"Ponyo" director Hayao Miyazaki poses for a portrait in Los Angeles on Tuesday, July 28, 2009.

The Academy announces the recipients of this year's Governors Awards. See who made the list!

in Entertainment

Robert Downey, Jr. calls ‘Guardians’ the best Marvel movie ever

Fresh
In this image released by Paramount Pictures, Robert Downey Jr. stars as billionaire industrialist Tony Stark aka Iron Man in the film, “Iron Man.”** NO SALES **

Iron Man's Robert Downey Jr. flies past his own ego with claims that this summer's "Guardians of the Galaxy" is the Marvel movie to beat.