UPDATE: Starbucks (SBUX) Said to Ink New Tea Distribution Deal with Beer Giant AB InBev (BUD)
Get Alerts SBUX Hot Sheet
Join SI Premium – FREE
AB InBev (NYSE: BUD) and Starbucks Coffee (Nasdaq: SBUX) said to partner on tea distribution in U.S., according to the WSJ.
UPDATE - According to the report, AB InBev's distribution network will deliver Starbucks' ready-to-drink tea to convenience stores and supermarkets across the U.S.
This is the second major distribution agreement AB InBev has inked with a non-alcoholoic beverage company over the last 10 years or so, with the last one being with Monster Energy.
Starbucks bought Teavana in 2012 to $620 million and has been in the tea segment since 1999 with its acquisition of Tazo.
Shares of Starbucks are down 0.4 percent.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Starbucks (SBUX) PT Lowered to $91 at Guggenheim
- ContextLogic (WISH) Receives Stockholder Approval of Transaction with Qoo10
- Blackstone (BX) Nears Deal to Sell Control of S.Korean Pharma Wholesaler Geo-young to MBK Parnters for Over $1B - Reuters
Create E-mail Alert Related Categories
Insiders' Blog, RumorsRelated Entities
Definitive AgreementSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!