Content on this page requires a newer version of Adobe Flash Player.

Get Adobe Flash player

Starbucks ( SBUX)

52-Week High Reached Tuesday: $33.09

Starbucks is in the middle of a developing dispute with Kraft Foods ( KFT) surrounding Starbucks' termination of the pair's 12-year distribution agreement.

Kraft said Monday it is seeking a preliminary injunction against Starbucks for breaking the agreement .

Kraft said "Starbucks is attempting to unilaterally end the strategic partnership that provides Kraft with the exclusive rights for the sales, marketing and distribution of Starbucks roast and ground coffee in grocery and other retail outlets." In seeking an injunction, Kraft wants Starbucks to stop moving ahead with business operations as if the agreement had already been terminated. Kraft argued "the contract is still in force."

In response to Kraft's statement, Starbucks said Monday it "believes that it's unfortunate that Kraft has chosen to attempt this delaying tactic through seeking preliminary injunction, a course that will ultimately prove harmful to customers. Starbucks has repeatedly said that we have terminated our agreement with Kraft and we continue to look forward to assuming full responsibility for the sales and distribution of our packaged coffee products as of March 1, 2011."

>> Peet's Could Benefit from Starbucks-Kraft Split

If you liked this article you might like

5 ETFs to Buy If You Love Priceline's First-Quarter Earnings

You Could Score Big With These 3 ETFs if Fox's Earnings Surprise Everyone

With Consumer Confidence Up, These ETF Sectors Should Be Standing Tall

3 ETFs to Buy if You Think Fox Will Beat Earnings

Deteriorating Consumer Confidence Good for Housing