Starbucks, Green Mountain Expand Partnership
SEATTLE (AP) — Starbucks Coffee Co. and Green Mountain Coffee Roasters Inc. are expanding their partnership to make, market, distribute and sell Starbucks’ Vue coffee packs for use in Green Mountain’s Keurig Vue single-cup machines.
The news relieved some investors concerned that Starbucks’ new single-cup Verismo coffee machine might be a competitive threat to Keurig.
Green Mountain stock jumped $3.50, or 6.9 percent, to $54.20 in early trading after Wednesday’s announcement.
Green Mountain, which is based in Waterbury, Vermont, is expected to distribute Starbucks Vue packs initially to U.S. specialty, department store and mass retailers and on its web sites by the fall.
Shares of Seattle-based Starbucks Corp. dipped 10 cents to $53.63.
— Copyright 2012 The Associated Press.