On Wednesday, GMCR announced that it has negotiated an agreement with International Coffee & Tea to offer its Coffee Bean & Tea Leaf branded drinks in K-Cup containers, usable in Keurig machines. Financial terms of the deal were not disclosed, but the partnership is described as a “multiyear agreement.”
The K-Cup packs featuring the Coffee Bean & Tea Leaf brews will hit store shelves in the spring of 2014.
Established half a century ago, the Coffee & Tea Leaf brand is the largest privately-owned coffee and tea seller in the U.S.
Earlier this month, Starbucks (SBUX) reached a 5-year deal with GMCR to triple the number of K-Cup packs of Starbucks-branded coffees for Keurig machines.
Shares of GMCR slipped slightly in Wednesday morning trading.