Starbuck, Anheuser-Busch To Launch Teavana Ready-to-Drink Tea In U.S.
Anheuser-Busch and Starbucks (SBUX) announced that they are working together to produce, bottle, distribute and market the first Teavana Ready-to-Drink or RTD tea in the U.S., with an anticipated product launch in the first half of 2017.
Premium RTD tea is the fastest-growing segment in the RTD tea category, which grew at 16% CAGR over the past five years and generates $1.1 billion in sales.
Starbucks will contribute Teavana's tea expertise, retail activation, and consumer engagement capabilities, and Anheuser-Busch will lead production, bottling and distribution to retailers nationwide in partnership with its long-standing and well-established network of wholesalers.
Starbucks and Anheuser-Busch plan to introduce new Teavana RTD non-alcohol premium tea beverages across U.S. channels. The new RTD product line will integrate the handcrafted nature and epicurean flavors drawn from Starbucks and Teavana's retail favorites to offer consumers premium layered flavors. (dpa)
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