Aug 22 K-cup coffee pod maker Keurig Green
Mountain Inc said it signed a deal to make and sell
Kraft Foods Group Inc's coffee in packs compatible with
its brewing machines.
Shares of Keurig, in which Coca-Cola Co has a stake,
rose nearly 10 percent at a record high of $128.82. Kraft's
shares were down 0.2 percent $57.16 in morning trading.
The Keurig brewing machine popularized the use of pods, or
small packets containing coffee, tea or hot chocolate powder,
for easy, one-cup brewing of hot drinks.
While the financial terms were not disclosed, Keurig's deal
with Kraft is similar to the ones it struck with Nestle SA's
U.S. division and J.M. Smucker Co this year.
Following a planned transition period, Keurig said it would
exclusively make the Kraft-branded pods, which are expected to
be launched in fall this year.
Keurig is lining up licenses with other coffee makers ahead
of the launch of new brewing systems, including the Keurig 2.0
and Keurig Bolt, this year.
(Reporting by Sruthi Ramakrishnan in Bangalore; Editing by