Keurig Dr Pepper Inc. (KDP) on Tuesday said it renewed and expanded its partnership with Nestlé USA to manufacture and distribute Starbucks K-Cup pods in the U.S. and Canada.
Keurig said the renewed deal builds on their 2020 collaboration and adds initiatives to expand distribution and innovation for Starbucks products on the Keurig brewing system.
Under Nestlé's global agreement with Starbucks, Nestlé handles distribution of Starbucks at-home coffee products across retail channels outside coffeehouses, excluding ready-to-drink items. Consumers can access a range of Starbucks blends, roasts and flavored coffees through K-Cup pods.
"We look forward to deepening our relationship with Nestlé to build upon our long-standing partnership with Starbucks, one of the most beloved brands within the Keurig systems," said Olivier Lemire, President, U.S. Coffee at Keurig Dr Pepper.
KDP shares closed at $26.50 on Monday, down 0.11%.
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