| July 23
July 23 Starbucks Corp and Danone SA
said on Tuesday they agreed to sell a co-branded
yogurt through Starbucks cafes and in grocery stores as yogurt
makers battle for dominance in the $7 billion U.S. market.
The partnership comes as Starbucks pushes into the "health
and wellness" category and as Danone, owner of the Dannon brand,
and other yogurt makers seek to conquer the U.S. market, where
yogurt consumption lags Europe.
Financial terms were not disclosed.
The first product will be ready-to-eat Greek yogurt
parfaits, to be sold in U.S. Starbucks stores in spring, 2014.
Distribution to food retailers is planned for 2015, with
global expansion to follow, the companies said.
The U.S. retail market for yogurt is estimated at $7
billion, according to Euromonitor International, a sales
tracking firm, having grown an average 8.5 percent during the
last five years.
Euromonitor forecasts the growth rate slowing to 5.9 percent
for the next five years, double the expected growth of packaged
Greek-style yogurt now makes up more than 40 percent of the
market, though the top-selling brand remains Yoplait, which has
a nearly 24 percent share, according to Euromonitor. Privately
held Chobani is second though France's Danone has a greater
overall share between its Dannon, Activia, Stonyfield Farm and
Danimals brands, which together account for 30 percent of the