Starbucks Is Teaming up With Beer Maker Anheuser-Busch

Starbucks (SBUX) - Get Report , a company known for coffee beverages, just partnered with Anheuser-Busch InBev (BUD) - Get Report , a company known for beer. And what will the two companies be working on together? Iced...tea, of course.  In a deal announced this week, the Seattle-based coffee chain said they are working with Anheuser-Busch to 'produce, bottle, distribute and market the first Teavana Ready-to-Drink tea.' The product is expected to hit shelves in 2017. In the last year, Starbucks has sold more than $1 billion worth of specialty Teavana drinks in stores. This represents  an 11 percent increase in year over year sales. Representatives from Starbucks and Anheuser-Busch said the partnership will allow each company to gain market share in the rapidly growing premium tea market.

This article was written by a staff member of TheStreet.