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Keurig Green Mountain Inc. and Peet's Coffee & Tea announced a multiyear manufacturing and distribution agreement for Peet's-branded packs for the Keurig brewing system. Financial terms of the agreement were not disclosed.
According to a news release, the companies plan to launch a selection of Keurig-licensed Peet's coffee and tea varieties in K-Cup packs for Keurig brewers 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 first entered the single-cup format seven months ago and has expanded distribution to more than 12,000 stores nationwide, the release said.
"We continue to have incredible growth and success in the single-cup category as existing and new consumers have responded very favorably to the quality and experience of Peet's in the single-cup form over the past year," Dave Burwick, president and CEO of Peet's Coffee & Tea, said in the release. "We believe now is the right time to partner with Keurig and work together to further advance this important, growing category."
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