Starbucks to sell Teavana ready-to-drink tea in US next year
NEW YORK (AP) - Starbucks is teaming up with Anheuser-Busch to unveil a line of ready-to-drink tea in the U.S. next year.
The Seattle coffee chain said Thursday that its premium brewed and iced teas are a high-growth category, with sales up last year 11 percent, to more than $1 billion.
Under the agreement, Starbucks Corp. will offer its expertise while Anheuser-Busch will produce, bottle and distribute the non-alcoholic drinks.
Starbucks Corp. bought Teavana for $620 million in 2012 and incorporated its high-end teas into its flagship Starbucks stores. Earlier this year it said it would close four of its five Teavana "tea bars" that mimicked its namesake stores, except with tea. The closures didn't affect the more than 350 Teavana retail locations.