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UPDATE: Starbucks (SBUX) Said to Ink New Tea Distribution Deal with Beer Giant AB InBev (BUD)

June 2, 2016 3:33 PM EDT
(Updated - June 2, 2016 3:38 PM EDT)

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.



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