Statement: Update on Starbucks Consumer Packaged Goods Business
SEATTLE, November 04, 2010 - Since 1998, Starbucks (Nasdaq: SBUX)packaged coffee has been distributed to grocery stores and other outlets by Kraft Foods. A month ago Starbucks informed Kraft of its intention to end that distribution arrangement. The details and timing around any transition will be subject to further private dialogue. Starbucks intends to work closely with Kraft to ensure an orderly transition, putting an emphasis on ensuring their mutual customers are well served. Starbucks intends to keep the discussions with Kraft private and will not be providing further details or comments at this time.
About Starbucks Corporation
Since 1971, Starbucks Corporation has been committed to ethically sourcing and roasting the highest quality arabica coffee in the world. Today, with stores around the globe, the company is the premier roaster and retailer of specialty coffee in the world. In addition to its Starbucks retail stores, the company produces a wide range of branded consumer products globally, including ready-to-drink beverages, packaged coffees and premium ice creams. The company's brand portfolio features Starbucks Coffee, Tazo Tea, Seattle's Best Coffee and Torrefazione Italia Coffee, enabling Starbucks to appeal to a broad consumer base. For more information, please visit us online at www.starbucks.com.