WATERBURY, VT -- Single-cup coffee pioneer Keurig Green Mountain Inc. and packaged foods giant Kraft Foods Group Inc. announced today a multiyear licensing, manufacturing and distribution agreement for Kraft's branded coffees in Keurig portion packs compatible with Keurig commercial and consumer brewing systems in the U.S.
Financial terms of the agreement were not disclosed.
With this new agreement, office coffee service customers and home consumers in the U.S. can prepare Maxwell House, Gevalia and Yuban, along with McCafé, in a variety of licensed Keurig portion pack formats.
ON THE STREET
Keurig Green Mountain (GMCR) opened sharply higher this morning and is now up 9.44 at $127.19. The stock is challenging the highs of the year, trading at over a month and a half high.