Keurig Green Mountain and Starbucks Amend Agreement
17 Mar 2014 --- Keurig Green Mountain, Inc., a leader in specialty coffee, coffee makers, teas and other beverages with its innovative brewing technology and Starbucks Coffee Company, the global leader in the premium single cup coffee category, announced today amended terms to the companies’ existing five-year agreement.
The companies have updated their agreement to continue to expand Starbucks range of K-Cup pack offerings and to promote expanded consumer choice as Keurig continues to build its Keurig brewing system. In exchange for eliminating the super-premium coffee exclusivity terms of the existing agreement Starbucks will receive improved business terms, including significantly expanded Starbucks K-Cup® pack and variety types.
Starbucks Coffee Company group president, China and Asia Pacific, Channel Development and Emerging Brands John Culver said, “This amendment advances Starbucks commitment to strengthening its global leadership position in the nearly $8 billion premium single cup coffee category. With nearly 2 billion Starbucks K-Cup® packs shipped from the inception of our relationship through the end of 2013 this contractual update underscores the appeal of Starbucks to the millions of Keurig brewer owners and the continued innovation and collaboration our relationship reflects.”
“This amended agreement creates more favorable business terms for both companies and allows us to build upon our strong relationship,” said Mark Wood, Senior Vice President, Global Hot Systems for Keurig.
