Keurig Green Mountain, Inc. (Keurig) (NASDAQ: GMCR), a leader in specialty coffee, coffee makers, teas and other beverages with its innovative brewing technology, and Peet’s Coffee & Tea, a premier specialty coffee and tea company, announced a multi-year manufacturing and distribution agreement for Peet’s-branded packs for the Keurig ® brewing system. Financial terms of the agreement were not disclosed.
The companies plan to launch a selection of Keurig® licensed Peet’s coffee and tea varieties in K-Cup ® packs for Keurig ® brewers produced by Keurig by the end of the summer. Peet’s will continue to hand roast the beans for its Peet’s K-Cup ® packs at its LEED-Gold certified roasting facility in Alameda, Calif. and the roasted beans will be transported to Keurig for grinding and packaging in K-Cup® packs.
The new, licensed Peet’s K-Cup ® packs will be distributed by Peet’s proprietary nationwide direct delivery system to grocery stores, mass merchandisers, club stores, Peet’s retail stores, and online at www.peets.com. Keurig will distribute Peet’s K-Cup® packs to specialty and department stores and away from home channels, as well as via its U.S. consumer direct site, www.keurig.com.
Peet’s entered the single-cup format just seven months ago and has quickly established a strong presence, expanding its distribution and retail sales of its single cup products, which are now available in over 12,000 stores nationwide.“Consumers consistently choose the Keurig brewing system for the quality, simplicity, value and variety of the brands and beverages available in the system,” said Brian Kelley, Keurig's President and CEO. “We’re thrilled to bring Keurig consumers and Peet’s lovers the choice of Peet’s premium specialty coffees and teas as part of the continually growing Keurig family of brands; hand roasted by Peet’s and expertly packaged in K-Cup packs by Keurig to deliver optimum freshness and taste with the ease of the Keurig brewing system.”