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Starbucks to Begin Offering K-Cups in November

By Market News Video Staff, Tuesday, August 30, 9:24 AM ET
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Starbucks (NASDAQ:SBUX) said today it will begin offering its coffee in single-cup brewing K-Cups for Keurig coffee makers in November.

The Keurig Single Cup Brewing system is produced by Green Mountain Coffee Roasters (GMCR), with which Starbucks said it is the “exclusive licensed super-premium coffee brand,” it said.

The head of Starbucks’ global consumer products business, Jeff Hansberry, said the company plans to build its systemwide sales of K-Cups into a $1 billion business over time.

The company noted the K-Cup Portion Packs will launch in food, drug, mass, club, specialty and department store retailers in the U.S. just in time for the holidays. They will be available in Canada as well as on Starbucks and Green Mountain’s websites early next year.

The K-Cups will be sold in Starbucks retail stores later in 2012.

In its announcement, Starbucks noted that single-cup coffee sales drove coffee category growth last year in the U.S., with sales of nearly $2 billion.

Bloomberg first reported the news based on an interview, prior to Starbucks’ announcement. Hansberry told Bloomberg that retailers like Wal-Mart (NYSE:WMT) and Target (NYSE:TGT) would sell the Starbucks K-Cups.

Dunkin Brands (NASDAQ:DNKN) already sells its own version of the K-Cups at its Dunkin Donuts stores, Bloomberg noted.

This Article's Word Cloud:   Bloomberg   Brands   Brewing   Canada   Coffee   Cups   DNKN   Donuts   Dunkin   GMCR   Green   Hansberry   Jeff   Keurig   Mart   Mountain   NYSE   November   Packs   Portion   Roasters   SBUX   Single   Starbucks   Target   They   already   announcement   available   based   begin   billion   brand   brewing   build   business   category   coffee   company   noted   retailers   said   sales   single   stores   that   time   will   with   year
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