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 Headlines

15 hours ago in Sports

NFL bars violent offenders from rookie scouting combine

nfl

The National Football League has decided individuals who have convictions for domestic violence, sexual assault or weapon offenses will no longer be allowed to participate in the NFL Scouting Combine.

16 hours ago in Viral Videos

Will Ferrell wants to be the new animal expert on ‘The Late Show’

15-overlay-7

Stephen Colbert's "The Late Show" doesn’t have an animal expert yet, so why shouldn’t it be Will Ferrell?

22 hours ago in Sports

Party like it’s 1999: Denver to celebrate another Super Bowl

Denver Broncos’ head coach Gary Kubiak, right, reacts after getting soaked with a sports drink by Von Miller (58) after their win against the Carolina Panthers in the NFL Super Bowl 50 football game Sunday, Feb. 7, 2016, in Santa Clara, Calif. The Broncos won 24-10. (AP Photo/Matt Slocum)

The Denver Broncos will board fire trucks and roll slowly through the crowd-lined streets of the Mile High City to celebrate winning the Super Bowl.

22 hours ago in Music

Billy Gibbons starring in reality TV series

billygibbons

The ZZ Top star is headed to TV in a series about restoring classic cars.

23 hours ago in Entertainment, Sports

Super Bowl fans bet record $132.5 million at Nevada casinos

Denver Broncos’ Peyton Manning, center right, holds the trophy after the NFL Super Bowl 50 football game against the Carolina Panthers, Sunday, Feb. 7, 2016, in Santa Clara, Calif. The Broncos won 24-10.  (AP Photo/Matt Slocum)

Denver were a 5-1/2-point underdog to top-seeded Carolina ahead of Sunday's game in Santa Clara, California, but used a ferocious defense to pull out a 24-10 victory.