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 Music

10 of the most memorable MTV Video Music Awards moments

mileycyrusvma

Since debuting in 1984, the MTV Video Music Awards have prided themselves on being a stage for all things hip - and often - controversial.

in Sports

This week’s best sports shots

llws

Some of the best plays and biggest newsmakers from the week in sports.

in Viral Videos

This is one way to get a tan

10-overlay22

It's summer and the beaches are packed - so this guy got some private sunbathing time while sky high.

in Music

Pink Floyd’s flying pig set for auction

pigs

Executives at Air Artists, the firm behind the floating porky, are selling off the blow-up pig as part of a rock memorabilia sale, which will also feature items created for the Rolling Stones, Iron Maiden and AC/DC.

in Music

Richie Sambora developing TV show

richiesambora

The former Bon Jovie rocker is expanding his resumé by developing a TV show for HBO.